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Q.

A situation where people are willing to work but fail to find jobs are called ____.


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Detailed Solution

Unemployment is the situation where people are willing and able to work but fail to find jobs. Unemployment is commonly found in developing countries as compared to developed countries. The workforce population contains people from 25 to 59 years. The limitation of unemployment is it leads to the wastage of workforce resources; it tends to increase economic overload. It harms the overall growth of the economy. Unemployment is a significant issue in both rural and urban areas.
 
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