Question

explain any 5 effects of unemployment on the overall growth of the economy

Answer 1

hey mate here is your answer...........

5 effects of unemployment on the overall growth of the economy are-----

1)its leads to the wastage of human resource.
2)unemployment converts the assets of the economy into liability
3)it also increase the economic overload.
4)it creat a feeling of depression .
5)it negativty affect the quality of life.

please mark as brainlist.

Answer 2

Unemployment is a situation in which a person is unemployed due to unavailabilty of work even if he is willing to work. There are differenet types of unemployment prevailing in the country. Some of them are:-

1. Seasonal Unemployment- It is based on the seasonal availability of work. If there is more demand of labor in the market during Festive times, more people are employed and if not, then they left unemployed.

2. Disguise Unemployment- It is "hidden" form of Unemployement where more number of people are doing the same work then required.

3. Frictional Unemployment- If a person is unemployed for some period of time may be due to searching better opportunites, then it is considered as Frictional Unemployment.

Unemployment has a huge impact on the overall growth of an econom such as:-

• If Unemployment persist in the economy, the Gross Domestic Product (GDP) rates are decreased which create a bad image in the Internal Market.
• The Unemployment situation also lead to less demand in the market which can again hamper the economic growth of the country.
• Due to persisting unempolyment, the supply side or the Producers of the commodity also suffer.
• If the supply and demand side of the market suffer, then it will also create large Non Performing Assets with the Banks.

To gain more information about Unemployment, follow this:-

1. https://brainly.in/question/6314803

2. https://brainly.in/question/6161478

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