Basicseconomy poverty uneployment 2025 Exam

  Qts 1What is meant by  Absolute Poverty

When the level of the income of people of a country is so low that they cannot meet even their basic minimum requirements, it is called absolute poverty.

Example: Slum people 

Qts 2 What is Relative Poverty

While comparing the incomes of different people, we find that some people are poorer than others, it is called relative poverty.

Example; Middle Upper  Class people comparing them selves with  Upper Class people 

3 What is Cyclical Unemployment:

It is also known as demand deficiency unemployment, It refers to a situation where people are thrown out from job due to a recession or depression in an economy.

Qts 4 What is Structural Unemployment:

It is the unemployment caused by structure of the society. 

Example : Rural Agriculture sector which based on caste hierarchy

Qts 5 what is Frictional Unemployment:

It is the situation when people change from one job to another and remain unemployed during that interval. It is short period

Example; moving from Indian IT company to US  IT company 

Qts 6 Disguised Unemployment:

It occurs when a person is engaged in a work but his contribution of his marginal productivity is zero.

Removing that person from work will not affect total production. 

This is mainly found in rural  agriculture sector of developing economies.

Example : Joint family in rural India 

Qts 7 What is Educated Unemployment: 

Those educated/trained and skilled fails to obtain a suitable . This is mainly found in urban areas.

Qts 8 What is Open Unemployment:

It refers to those who have no work to do even though they are able and willing to do work. 

Unskilled labour unemployment is included in this category.

Qts 9 What is Under Employment

It refers to the underutilization of manpower available both in terms of skill in urban area. 

MA Phd in History working as Constable 

Qts 10 What is Voluntary Unemployment: 

It occurs when jobs are available but the persons are not interested in being employed due to wage rate, economy position, laziness

11 What is Seasonal Unemployment : 

It occurs when demand for labour changes with seasons and workers get employment only in the peak season like harvesting and sowing seasons in agriculture.

Qts 12 What is Technical Unemployment 

It caused due to change in technology, when workers either being replaced by machines or having their jobs made easier and require fewer workers to accomplish the same task.