Distinguished between open unemployment and disguised …
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Preeti Dabral 2 years, 9 months ago
Open Unemployment
Disguised unemployment
Open employment refers to the situation in which an individual has no job and unable to earn his livelihood.
Disguised unemployment refers to the situation in which people work at a place where there is no more people are required. The situation in which people are apparently working but all of them are made to work less than their potential.
This unemployment is clearly visible. Open unemployment is the unemployment which is visible and seen that some people who want to work but do not have the work.
This unemployment is hidden. Under this, the worker is working, but if he is removed, the production does not fall.
People's unemployment will affect the production of goods and services in an economy.
People's unemployment won't affect the production of goods and services because here already more than the requirement of people are working so if they leave that's not a big deal.
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