The Creative Ability of Individuals to Combine and Direct Resources

question 40

Multiple Choice

The creative ability of individuals to combine and direct resources to produce new products is known as:

• A) economising.
• B) entrepreneurship.
• C) value judgement.
• D) product sensitivity.

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Definitions:

Unemployment Rate

The proportion of the labor force that is without work but actively seeking employment and willing to work, expressed as a percentage.

U-4 Measure

A specific measure of unemployment that includes all persons who are not currently working but are willing to work and actively seeking employment, plus discouraged workers.

Discouraged Workers

Individuals who have stopped looking for employment due to the belief that there are no jobs available for them.

Spells Of Unemployment

Spells of unemployment refer to the durations during which an individual is continuously unemployed, often tracking the frequency and length of these periods over a person's career.