Question

Why should there be huge unemployment in India when scarcity of resources is a universal fact?

Answer 1

In India, as we all know unemployment is increasing at a rapid rate. Unemployment means the lack of job or employment for the people.

As we all know that one of the major global issue today is scarcity of resources. But, many people have a doubt that if it's a global issue then why only in India it's affects are seen. The reason lies behind increasing population. 

As we all know that India ranks second in the world's most populated countries list and it's also a known fact that it's the seventh largest country of the world.

Many a times we come to hear that there are abundant natural resources in India, but the population is far more high so these resources cannot feed the means of all.

Also the job and employment opportunity in India is less compared to it's population, thus unemployment is increasing in India.

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Answer 2

Answer

Factors of production (labour and capital) are always jointly used: Labour is combined with capital (say plant, machinery etc). In India, there is severe shortage of capital. In the absence of capital, labour cannot be used. Hence, there is huge unemployment of labour although scarcity of resources is a universal fact.

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