When a Group of Workers Find That Their Job Skills

question 46

Multiple Choice

When a group of workers find that their job skills and work experience have become obsolete and are not needed by industry, this type of unemployment is:

• A)search.
• B)frictional.
• C)structural.
• D)cyclical.

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Definitions:

Herfindahl Index

An evaluation of corporations' sizes in contrast to the overall market, pointing to the level of rivalry among them.

Price Leadership

Price leadership is a market situation where one dominant firm sets the price for goods or services in an industry, and other firms follow suit, either explicitly or implicitly.

Oligopolistic Firms

Companies operating in an oligopoly market structure, characterized by limited competition and high control over market prices.