Employment

Question 1

Define Employment

Answer 1

Employment refers to when an individual is paid for work done.

Question 2

State 5 reasons why employment exists

Answer 2

Provide basic needs such as food, clothing and shelter

Gain financial independence

Save for retirement

Provide for their families

To obtain a higher standard of living

Question 3

Name types of Employment

Answer 3

Full time employment and part-time employment

Question 4

Define full-time employment

Answer 4

Full-Time employment typically means having a set work of 8 hour days and 40 hour weeks.

Question 5

4 Benefits of full-time employment

Answer 5

Full-time employment is desirable
for the following reasons:

The ability to be paid more than
part-time workers

Paid vacation

Healthcare and other benefits
e.g., a pension plan

Your work schedule is usually
fixed e.g., Mon-Fri 8am to 4pm.

Question 6

Part-time employment means?

Answer 6

Part-time employment means
working no more than 21-34
hours per week.

The terms of employment is
usually outlined in the
employee’s contract.

Question 7

3 Benefits of part-time employment

Answer 7

Some benefits of part-time
employment are:

More free time to pursue other
interests or activities

There’s the opportunity to earn
more income if working multiple
jobs

Reduced stress and improved
health

You can spend more time with
family

Question 8

Define Unemployment

Answer 8

The term unemployment
refers to a situation where a
person actively searches
for employment but is
unable to find work.

Question 9

Causes of unemployment

Answer 9

L.L.I.V

Lack of job opportunities

Lack of skills for the available job

Increased automation whereby machinery replaces human labour

Voluntary unemployment as some do not choose to work.

Question 10

4 Effects of unemployment

Answer 10

High levels of unemployment will
cause the following:

Leads to poverty and
homelessness

It reduces tax revenue for the
government

Results in brain drain

Leads to an increase in the crime
rate

Generates conflict within the
family

Question 11

4 Strategy to reducing Unemployment

Answer 11

Some strategies for reducing unemployment:

Promote education and training opportunities

Promote the development of small businesses

Reduce taxes on business to allow them to hire more staff

Promote labour intensive jobs like agriculture