Question

How does unemployment affect the overall growth of an economy ? Explain by giving 4 points.

Answer 1

unemployment affects the overall growth of an economy.
1 unemployment leads to undeveloped country
2 unemployment means lack of work. lack of work lack of money. No money no food
3 unemployment also leads to malnutrition
4 no foreign traders will come to country for exchange so it is an economy disturbance

Answer 2

Hey! Haven’t answered for anyone in a long time. Here goes!

The detrimental impact of unemployment is as follows:

1. Unemployment negatively impacts the economy of the country. This is because unemployment creates a feel of hopelessness and depression among the unemployed people.
2. Unemployment results in the wastage of human resource as people are not involved in any kind of productive activities. This makes them a liability for the nation. Unemployed people are not able to support their families and educate their children.
3. This makes the entire family dependent on the nation, and hence, the dependence of unemployed people increases on the working population of the country.
4. The quality of life of an unemployed person deteriorates which also impacts the social life of a person. This may result in people engaging in illegal activities such as theft, robbery, etc.
5. Increasing trends towards unemployment is an indicator of a depressed economy where most of its human resource is not engaged in any productive activity.