Which of the Following Types of Unemployment Is Common in Industries

question 69

Multiple Choice

Which of the following types of unemployment is common in industries with predictable increases and decreases in customer demand?

• A) structural
• B) frictional
• C) intrinsic
• D) seasonal
• E) cyclical

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Definitions:

International Cartel

An agreement between companies, often from different countries, to control prices, limit production, or divide markets for goods or services internationally, thereby reducing competition.

Noncollusive Oligopoly

A market structure where a few companies dominate but do not illegally agree to control prices or market share.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for competition based on quality, price, and marketing.

Elastic Demand

A market condition where the quantity demanded of a good or service significantly changes in response to a change in price.