In sociology, there is a micro and macro view of communities. Micro refers to the smallest unit of a society; macro refers to the largest, or "overall" society. Unemployment will always affect the micro first; it's where people live, shop, buy services. Unemployment restricts buying power and reduces economic growth of local businesses. The more widespread unemployment becomes, the more it begins to affect a State or region, and eventually the nation.
Inflation and unemployment
One possible way to solve unemployment problems is by using the 3 fundamental questions of economics. These are what to produce, how to produce it, and the cost of production.
In economics it's the inverse relationship between inflation and unemployment.
role of economic in our parecticle life
The branches of economics are Microeconomics and Macroeconomics.Microeconomics - ("small" economics), which examines the economic behavior of agents (including individuals and firms) and;Macroeconomics - ("big" economics), addressing issues of unemployment, inflation, monetary and fiscal policy for an entire economy.
Absolutely, unemployment plays a critical role in national economics. It affects the economy as much, or more, than any other element in the economic formulae
what is the role of managerial economics in Pakistan
Inflation and unemployment
The natural rate of unemployment is the rate that holds over the long-run in equilibrium. In Classical economics, this rate is 0%. With other assumptions, such as frictional and structural unemployment, you will get a natural unemployment rate above 0%. Source: http://www.transtutors.com/homework-help/macro-economics/unemployment/full-employment/
What role does economics play in your personal and organizations decisions?
One possible way to solve unemployment problems is by using the 3 fundamental questions of economics. These are what to produce, how to produce it, and the cost of production.
In economics it's the inverse relationship between inflation and unemployment.
role of economic in our parecticle life
not for several years now, good govermental economics plan.
The branches of economics are Microeconomics and Macroeconomics.Microeconomics - ("small" economics), which examines the economic behavior of agents (including individuals and firms) and;Macroeconomics - ("big" economics), addressing issues of unemployment, inflation, monetary and fiscal policy for an entire economy.
Yes, the population of an area does play a role in the unemployment rate. If the population rate of an area is higher than the number of jobs that are available, the unemployment rate is going to be hire.
A basic understanding of Economics plays a fundamental role in achieving success in Business.