Question

1. “Unemployment has a detrimental impact on the overall growth of an economy”. Justify the statement with any five reasons.

Answer 1

Answer:

Unemployment has a detrimental impact on the overall growth of an economy. ... This is because unemployment creates a feel of hopelessness and depression among the unemployed people. Unemployment results in the wastage of human resource as people are not involved in any kind of productive activities.

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Answer 2

Answer:

Unemployment has a detrimental impact on the overall growth of an economy in the following ways:

• Leads to wastage of manpower resources.

• Tends to increase economic overload.

• The dependence of the unemployed on working population increases.

• Quality of life adversely affected.

• Unemployed turns into a liability.

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