Employment Flashcards
1
Q
Define unemployment
A
A situation in which people who are willing and able to find work are not able to
2
Q
Why does the government want a low level of unemployment?
A
Unemployment is a waste of Human Resources (they could be producing goods/services), bad for society: social problems and benefit payments, more tax revenue for the government, and for the individual.
3
Q
How is GDP related to employment?
A
If GDP increases so does economic growth. Therefore businesses have more money so therefore they can employ more
people.
