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Q.

Unemployment refers to a situation :


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a

A situation when all those people who are willing and are able to work at the existing wage rate do not get work

b

It is a state in which a person is willing and able to work at prevailing wages, but his productivity is zero.

c

It is a state in which a person is willing and able to work at prevailing wages, but his productivity is low.

d

It is a state in which a person has to work only for a few months in a year. 

answer is A.

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Detailed Solution

Unemployment refers to a situation when all those people who are willing and able to work at the existing wage rate do not get work.
Unemployment does not just give birth to socio-economic problems but is also a waste of workforce resources. There are two types of unemployment, one is disguised unemployment and seasonal unemployment. The agricultural sector in India has witnessed the situation of disguised unemployment.
 
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