Question

Explain the nature of unemployment in indian economy ch 2

Answer 1

srry iam an Australian

Answer 2

Answer:

When millions of unemployed but willing workers cannot find jobs, an economic resource is going unused. An economy with high unemployment is like a company operating with a functional but unused factory. The opportunity cost of unemployment is the output that could have been produced by the unemployed workers.

Most of the unemployment in India is structural in nature. Apart from structural unemployment, there is some cyclical unemployment. If we classify unemployment as urban and rural, we find that the total urban unemployment is mainly industrial and educated and rural unemployment is seasonal and disguised in nature.

Unemployment in India is measured by the National Sample Survey Organisation. The unemployment rate is measured using a fixed formula. Unemployment = Total of Unemployed population who can work/Total of the community capable of accomplishing. According to this ratio, the unemployment rate is calculated.