Concept
What do structural unemployment, supply, supply curves, technology, and the unemployment rate mean?
IntroductionToBusiness OP 8D04gAa / Summary of Learning Outcomes
"Structural unemployment is unemployment that is caused by a mismatch between available jobs and the skills of available workers in an industry or region; not related to the business cycle. Supply is the quantity of a good or service that businesses will make available at various prices. A supply curve is a graph showing the quantity of a good or service that businesses will make available at various prices. Technology is the application of science and engineering skills and knowledge to solve production and organizational problems. The unemployment rate is the percentage of the total labor force that is not working but is actively looking for work."
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