d) Types of unemployment
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10 Terms
state the types of unemployment
structural
cyclical
seasonal
frictional
real wage
define structural unemployment
unemployment due to a lack of in demand skills
state two examples of structural unemployment
growth of certain industries
relocation of production
define cyclical unemployment
unemployment due to a decrease in demand for labour, due to a decrease in AD
represent cyclical unemployment on a wage-quantity graph
define seasonal unemployment
unemployment due to a lack of need of certain labour during certain seasons
state two examples of seasonal unemployment
jobs in
agriculture
tourism
define frictional unemployment
unemployment due to workers voluntarily leaving their jobs in search for another
define real wage unemployment
unemployment due to the real wage being higher than the equilibrium wage
represent real wage unemployment on a wage-quantity graph
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