1. Which situation best fits the economic definition of unemployment?
2. Which person is experiencing compulsory rather than voluntary unemployment?
3. A worker has a job but receives too little income to meet basic needs, while working hours are adequate. Which measure of unemployment is most directly relevant?
What is the definition of unemployment according to Prof. Pigou?
A situation where a person is willing, capable, and ready to work at the current wage but cannot obtain work.
What distinguishes compulsory unemployment from voluntary unemployment?
Compulsory unemployment affects willing and able workers who cannot find work, unlike voluntary unemployment.
Why is voluntary unemployment not considered an economic problem?
Because it concerns people who are unwilling to work.
What are Raj Krishna's four measures of unemployment?
Time, income, willingness, and productivity.
Which report introduced Raj Krishna's four measures of unemployment?
Shri Raj Krishna committee Report, 2011-12.
What is open unemployment?
When qualified people ready to work at current wages get no job.
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