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Structural Unemployment:
This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter the structure of the total demand for labour rendering some particular skill less in demand or may become obsolete. The demand for other skills however may expand. Unemployment in this case is the result of the composition of the labour force which does not respond quickly to new structures of job opportunities.
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Division of labour: Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be
williomson''s model of managerial discretion
an increase in immigrants
COST-OF-LIVING INDEXES * The CPI is computed each year as the ratio of cost of a typical group of consumer goods and services today in comparison to the cost during a base per
Problem: (a) Distinguish between fiscal and monetary policy, giving examples where appropriate. (b) Explain how fiscal and monetary policies might be used by a government
on what grounds is consumer surplus criticised?
price falls and demand is elstic
Measuring the Economic Value of Education A review of research works regarding the economic value of education shows that it developed in four different directions. They a
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