24x7assignmenthelp.Com Explains You Meaning of Full Employment and Challenges in Achieving It
Renowned economists all over the world refer full employment as a situation where every physically and mentally fit person is interested in working at the existing rate of wages is employed. However, it is a theoretical concept, and it is not possible practically to achieve this situation. Full Employment assignment help providers can explain you about those challenges which prevent an economy from achieving this situation.
Meaning of full employment in any economy
In economy, full employment is defined as a condition where does not exist any involuntary unemployment. It also means a situation in which all available resources in any economy, such as land, capital, labour, etc. are fully employed. However, the meaning of full employment is restricted to labour market only.
While providing Full Employment assignment help service, we demonstrate with examples how does every economy aim at accomplishing the level of full employment equilibrium. The advantage of this situation is that it leads to the maximum level of output.
Challenges in achieving this situation
Though the term full employment sounds very alluring, it does not exist in reality. It is because you will always some people, who are physically and mentally fit, but not interested in doing any productive work. Moreover, there are some people who remain temporarily unemployed for a short period when they try to change their job. Such type of employment is called frictional unemployment. There is another type of unemployment called structural unemployment which occurs when new machines are launched or when a production unit breaks down.
Benefits of our Full Employment:
When we provide Full Employment homework help, we also explain its benefits to the students.
- Fully mobilisation of available resources
The labour force is a great resource of any country. If an economy receives some contribution from its individual, then no one can stop that country from becoming a wealthy and self-sufficient country.
- Social harmony
Full employment helps in making a peaceful society.
Full employment results in social equality. Employment provides an opportunity to an individual to go ahead in the future through work.
- Remove poverty
The best way to enhance economic condition of people is by doing a job which enables it to earn its own wealth to meet their own requirement. A long term full employment helps in removing poverty.
Learning objective of this chapter:
- Understanding of the term
- The way to achieve full employment
- Challenges in the way of achieving it
- Employment scenario in various economy
- Views of renowned economists
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Those who have the thirst to know more must join us. Our service is open to everyone at any time. Our charges are also reasonable, so everyone can afford our services. We want to make our students self-dependent so that they can do their homework without Full Employment homework help.