Question

In: Economics

Which profession has trouble finding work if a countries educational system has produced more than the...

Which profession has trouble finding work if a countries educational system has produced more than the country can employ? Accountant Doctors Mechanics Engineers

Solutions

Expert Solution

The appropriate answer to this is Mechanic engineers. If we arrange these professions by their median wages then it would be like Doctors, Engineers Mechanics and Accountants. It is generally seen that demand for doctors is inelastic as any individual irrespective of his wealth will always make sure that he remains healthy and sound therefore always consume health services proportional to his wealth.

Hence Demand for doctors will always be there , similar the car with accountants as accounting is a human business and technological advancement can not completely replace that as human interference is necessary hence due to low wages and being accounting as an essential part this profession will always be in demand for

Mechanics are never be jobless as per capita income is increasing it is seen that number of households owning atleast one vehicle is increasing hence the demand for mechanics will also increase

Engineers are many than required in some settings hence it is deemed to take profession transition from engineering to finance and any other profession we name it. As maintenance work is very much menial and don't need to have major work force involved such as in developed countries it is mainly maintenance work and in developing country much of the construction work is not happening due to differential geopolitical issues

Hence I guess the profession of engineers is facing the heat of unemployment.( They spend more on education hence they don't prefer to work on lower wages to recover the cost)

Rahul Sunny answered 2 years ago
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