a situation of full employment exist when

Assessment: WAEC SSCE - Economics - 1994 (Objective) Subject: Economics

Question 1 Report

a situation of full employment exist when
Answer Details
A situation of full employment exists when all persons who are able and willing to work and who are eligible for employment, are employed. It means that there is no involuntary unemployment in the economy, and the level of unemployment is at its natural rate, which is the minimum level that is consistent with stable prices and a healthy economy. Full employment does not mean that every adult or every person of working age is employed, as some people may choose not to work or may not be able to work due to disability or other reasons.
Read lesson note on Theory Of Consumer Behaviour (WAEC)
Read lesson note on Banking (JAMB)
Read lesson note on Money And Inflation (JAMB)
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