Question

How does unemployment affect the overall growth of an economy?

Answer 1

(a) Unempioyment has negative affect on the economic deveiopment of a country in the following manner

(b) It is awastage of manpower resource. it increases the economic overioad and the number of dependent popuiation increases. Unempioyed people 'become a liabiiity for the country.

(c) The quality of iife of an individual as we" as of the society is adverseiy affected. There is a feeiing of despair and hopeiessness among the youth.

(d) The period lost in the unempioyment is an irrecoverabie loss. It is the loss of productive period and this loss cannot be compensated.

(e) Increase in unemployment is an indicator of a depressed economy.

Answer 2

Unemployment affect the overall growth of the economy because..

If there will be a great amount of unemployment their will be a gradual decrease in the national treasure of the country.
The country or economy then will be known as underdeveloped..
The price rates for the commodities and services will increase gradually.



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