Question

Explain the term unemployment . what is disguised unemployment. 0

Answer 1

(i) Unemployment : When a person is willing to  work at the prevailing wage rate but fails to get a  job, it is called unemployment.

(ii) Disguised unemployment : When more people  are working than required, it is called disguised  unemployment.

Even if we remove a few people  from the job, the process of production will not be  affected.