Why should there be huge unemployment …
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Posted by ?? 5 years, 1 month ago
- 2 answers
Gaurav Seth 5 years, 1 month ago
Factors of production (labour and capital) are always jointly used: Labour is combined with capital (say plant, machinery etc). In India, there is severe shortage of capital. In the absence of capital, labour cannot be used. Hence, there is huge unemployment of labour although scarcity of resources is a universal fact.
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?? 5 years, 1 month ago
2Thank You