Unemployment Flashcards
1
Q
What is unemployment
A
Refers to a situation when people r willing to work at the existing wage rate and are able to work but are not getting work.
2
Q
Who is a worker?
A
Is an individual engaged in production activity contributes to gdp by rendering his services is called a worker.
3
Q
Types of workers
A
Hired - who works for others and as a reward gets wages or salary
Self employed - engaged in their own business or own profession.
4
Q
Types of hired workers
A
Casual - daily wagers not given any social security benefits
Regular- on the permanent pay roll and are entitled ti all social security benefits.
5
Q
Diff between informal and formal sector or organised and unorganised sector
A
