What is employment and unemployment in India?

Answer 1

the position as establish by says law was broadly exceptable to all the classical economist and that is why in their opinion the economic achieve equilibrium at the full employment level only. this was there conclusion of course those who choose the remain unemployment voluntary because they were better off or the workers who want on strike,wher treated as parts of voluntary unemployment.similarly,because of the ignorance of the labour or because of certain natural clamities comparing the closing down of factories the labour may have to remain such an unemployment as friction unemployment may exist for frictional unemployment was temporary phenomina.that is why obsence in voluntary was taken to be the correct defferent of the concept of full employment. further,they argue that the nature forces of demand and supply would automatically bring about full employment. in voluntary unemployment in any economy is because of enter from the outside forces in the functioning of a free competative market or because of the imperfection in the market .if a free playof the market forcesis allowed unemployment.if there is unemployment the wage rate will go down reducing the cost of production.which will reduced the price of different commodity this will bring about an additional demand for the commodities and increased demand will push up production.this increase in output will provide employment to the unemployment level force.in this way if the wage rate are elastic unemployment will be automatically wippe off.