ECONOMICS
ECONOMIC GROWTH
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
Productivity
|
|
Investment expenditure
|
|
Occupational mobility
|
|
Geographical mobility
|
Detailed explanation-1: -Occupational labor mobility refers to the ability of workers to switch career fields in order to find gainful employment or meet the needs of industry. When conditions allow for high degrees of occupational labor mobility, it can help maintain strong employment and productivity levels.
Detailed explanation-2: -Shift from one occupation to another, usually when a new generation takes up occupations other than those practiced by their ancestors.
Detailed explanation-3: -Horizontal labour mobility – this is a worker’s ability to move to another job at a similar pay grade, e.g. if you lose a job stacking shelves in Tesco, the worker gets a similar job at Sainsbury’s. Vertical labour mobility – this is the worker’s ability to move up and down the employment hierarchy.
Detailed explanation-4: -For example, a worker moving from the United States to France illustrates the concept of geographic mobility. An automobile mechanic who changes jobs to become an airline pilot, on the other hand, reflects the concept of occupational mobility.
Detailed explanation-5: -Occupational mobility is the ability of labour to switch between different occupations. Occupational mobility is affected by the level of transferable skills and educational requirements of jobs.