Discuss the Significance of the Climate of Learning

question 58

Essay

Discuss the significance of the climate of learning. Name and describe the four elements that constitute the climate of learning.

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Definitions:

Structural Unemployment

An unemployment scenario where there's an incongruence between the skillsets provided by the labor market and those needed by employers.

Efficiency Wages

Wages that are deliberately set above the market equilibrium to increase productivity by attracting better applicants, reducing turnover, or increasing worker effort.

Equilibrium Level

The state in which market supply and demand balance each other, and as a result, prices become stable.

Structural Unemployment

A situation where there is a mismatch between the skills workers have and the skills needed by employers due to technological changes or other factors.