Question

6. Know the examples of different types of unemployment

7. What are the different types of wages?

Answer 1

1.Different types of Unemployment are structural unemployment ,frictional unemployment and cyclical unemployment .

Frictional unemployment is when people move from one job to another or when a person searches for a new job after his grduation.

Structural unemployment is due to the mismatch of what is required in the job and what is supplied in the market .

t can be due to the upgradation of Technology or any other factor .

Cyclical unemployment is due to the business cycle up and down which causes recession ,sometime boom and sometime bad situation for the economy.

2. Some of the type of wages are piece wages, cash purchase ,time wages ,contract wages etc .

If the labour is paid according to the time he served then it is said to be time wage.

Cash wage refers to the wage paid in terms of money.

Contract wage is when there is a contract that the worker has to go through and after completion he will be paid