ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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unemployed
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employed
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underemployed
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hired
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Detailed explanation-1: -A developing economy defines a country with a low human development index, less growth, poor per capita income, and more inclined toward agriculture-based operations rather than industrialization and business.
Detailed explanation-2: -Cyclical Unemployment: It is unemployment due to deficiency of effective demand. It is also called cyclical ‘Keynesian unemployment’.
Detailed explanation-3: -A major part of unemployment in present-day developed countries is of cyclical nature which is due-to deficiency of aggregate effective demand. But most of the unemployment in developing countries is not cyclical. Thus, in developing countries, there is not much Keynesian type short-term unemployment.
Detailed explanation-4: -Low Per Capita Real Income. Mass Poverty. Rapid Population Growth. The Problem of Unemployment and Underemployment. Excessive Dependence on Agriculture. Technological Backwardness. Dualistic Economy. Lack of Infrastructures. More items