A Mismatch of the Skills of Unemployed Workers and the Skills

question 196

Multiple Choice

A mismatch of the skills of unemployed workers and the skills required for existing jobs is defined as:

• A) involuntary unemployment.
• B) cyclical unemployment.
• C) structural unemployment.
• D) frictional unemployment.

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Definitions:

Industry Agreement

A collective consensus or a formal contract among companies within the same industry, often regarding standards, pricing, or other competitive practices.

Nonprice Competition

A marketing strategy in which a company tries to differentiate its product or service from competing products on the basis of attributes other than price.

Advertising

A method used by businesses to promote their products or services to potential customers.

Price Leadership

A market strategy where one leading company sets the price of goods or services within a sector, and other companies in the industry follow suit.