In December 2002,Kwaki Had a Labour Force of 14,757,000,employment of 13,097,000,and

question 4

Essay

In December 2002,Kwaki had a labour force of 14,757,000,employment of 13,097,000,and there were 7,994,000 people not in the labour force (all numbers rounded to the nearest 1000).
a.Calculate the unemployment rate.
b.Calculate the participation rate.
c.Calculate the employment ratio.

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Definitions:

Satisfy Consumers

The process or strategy of meeting or exceeding customer expectations to create a positive experience and encourage loyalty.

Groupthink

A psychological phenomenon occurring within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Product Concept

A philosophy that focuses on creating and marketing products that meet or exceed consumer expectations.

Brainstorming

A group creativity technique designed to generate a large number of ideas for the solution to a problem.