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Meaning of full employment, underemployment,voluntary and …

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Meaning of full employment, underemployment,voluntary and involuntary employment
  • 1 answers

Gaurav Seth 6 years, 11 months ago

Full employment refers to a situation in which all those people, who are willing and able to work at the existing wage rate, get work without any undue difficulty.

Involuntary unemployment occurs when a person is willing to work at the prevailing wage yet is unemployed. Involuntary unemployment is distinguished from voluntary unemployment, where workers choose not to work because their reservation wage is higher than the prevailing wage.

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