Question

Define full employment.

Answer 1

Full employment is a condition in an economy where complete employment opportunities are provided to the people who want to earn.

Full employment condition provides complete opportunities to the people who want to earn a living in an economy and want employment. It is the highest amount of skilled as well as unskilled labor that can be employed in an economy in a given amount of time.

Full economy is the complete usage of labor resources present in an economy.

Answer 2

Full employment is the situation in which every person available for employment is employed. This is an ideal situation that any country has not been able to accomplish.

Explanation:

• Full employment is the economic situation in which all of the imaginable working force is employed.
• However, the above description is not possible in real life, thus to make it more achievable socialists and economists have coined it as a state of minimal unemployment of skilled and unskilled labour.