Unemployment - Welfare - Price - Quantity
The unemployment situation in many countries at the moment is worrying. If this continues for a relatively long time, then the countries may have economic constraints in the long run. This will lead to the economic situation being in a very wanting state. Therefore, the economists have to address this in order to avert further complications. Addressing the future employment has to start with curbing the current state of the situation. This will lead to having a better and improved welfare of the people. Consequently, the country will grow and develop immensely after taking care of this situation. All economies ranging from political, traditional and development have a role to play in curbing issues concerning unemployment. This paper aptly examines how the concepts of economics and their influence on unemployment.
These concepts are very crucial in determining various economic issues and problems that are experienced in the economy. To start with, we have the concept of demand. This is very crucial in any running economy. Many businesses that are successful and those that wish to establish themselves in demand driven areas. This is where they can experience maximum growth at a normal rate. Demand is the relationship between price and quantity. It can determine the quantity of products that consumers need at a given price. The determinants of demand play a very important role in pricing of a product. This will tell whether the product does well in the market or not.
[...] Effective methods have to be used to see to it that unemployment rate becomes a thing of the past. This is by using the policies and implementing them fully and ensuring follow ups are made to see them work efficiently. Unemployment in the future has to start with its curbing done now when the nation is still energetic (Sharif, 43). References Chamberlin, Graeme, and Linda Yueh. Macroeconomics. London: Thomson Learning Print. O'Connor, David and Christopher C. Faille. Basic Economic Principles: A Guide for Students. Westport, Conn. [u.a.: Greenwood Press Print. Dodd, James and Carl W. [...]
[...] Unemployment: Case study Introduction The unemployment situation in many countries at the moment is worrying. If this continues for a relatively long time, then the countries may have economic constraints in the long run. This will lead to the economic situation being in a very wanting state. Therefore, the economists have to address this in order to avert further complications. Addressing the future employment has to start with curbing the current state of the situation. This will lead to having a better and improved welfare of the people. [...]
[...] Demand is the relationship between price and quantity. It can determine the quantity of products that consumers need at a given price. The determinants of demand play a very important role in pricing of a product. This will tell whether the product does well in the market or not. Fig The hypothetical curve-figure 1-above shows the price and quantity demanded of a certain commodity. The demand schedule has the price and quantity demanded of o product on the vertical; axis and horizontal axis respectively. [...]
[...] This is what is expected in order for development to take place globally. Poverty conditions can also be done away with through just the implementation of the policies. Implications and effectiveness of economic policies In my opinion, the policies of economics are the best that we have in place. However the main thing that is a disaster is the effective implementation of the same. The responsibility is left to those who cannot have a hand in the implementation to do it. [...]
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