Question

Explain any three effects of unemployment on the overall growth of the economy.​

Answer 1

Answer:

unemployment leads to wastage of manpower resource

exploitation of labour and loss

human resources

political instability and increase in poverty

Answer 2

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∆ Explain any three effects of unemployment on the overall growth of the economy.

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• Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy

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(i) Unemployment leads to wastage of manpower resource. People who are an asset for the economy turn into a liability. There is a feeling of hopelessness and despair among the youth. People do not have enough money to support their family. Inability of educated people who are willing to work to find gainful employment implies a great social waste.

(ii) Unemployment tends to increase economic overload. The dependence of unemployed on the working population increase. The quality of life of an individual as well as of society is adversely affected.

(iii) Unemployment has detrimetnal impact on the overall growth of an economy. Increase in unemployment is and indicator of a depressed economy. It also wastes the resource, which could have been gainfully employed. If people cannot be used as a resource they naturally appear as a liability to the economy.

(iv) The unemployed youth may turn to anti-social activities like cheating, thefts, murders, terrorism etc.

(v) The quality of life of an individual as well as of society gets adversely affected which eventually leads to decline in health status and rising withdrawal from the school system.

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