Concept of Unemployment - SS2 Economics Past Questions and Answers - page 1
What is unemployment?
A situation where individuals who are willing and able to work are unable to find jobs.
A situation where individuals who are not willing to work are unable to find jobs.
A situation where individuals who are not able to work are able to find jobs.
What is the current unemployment rate in Nigeria?
10%
20%
33.3%
What is the main reason for unemployment in Nigeria?
A lack of job opportunities
A lack of education
A lack of government support
What are the consequences of unemployment?
Poverty, social unrest, and a loss of productivity and potential.
Economic growth and development.
Increased job opportunities.
What are some of the reasons for the high unemployment rates in Nigeria?
Lack of job opportunities, a growing population, and a mismatch between the skills of job seekers and the available job opportunities.
Why is unemployment a significant issue in Nigeria?
Unemployment can lead to poverty, social unrest, and a loss of productivity and potential.