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What Type of Unemployment Would Result If an Entire Industry

question 21

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What type of unemployment would result if an entire industry is eliminated because of new technology?


Definitions:

Agent

An individual authorized to act on behalf of another, known as the principal, in dealings with third parties.

State

A political entity that possesses sovereignty and governance over a defined geographic area.

Corporations

Legal entities recognized by law as separate from their owners, with rights to enter contracts, own assets, and be liable for debts.

Model Business Corporation Act

A set of statutory provisions designed to provide a standard legal framework for the formation, operation, and dissolution of corporations in the United States.

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