Give a Few Examples of How Sectoral Shifts Temporarily Cause

question 270

Essay

Give a few examples of how sectoral shifts temporarily cause unemployment.

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Definitions:

Push Production

A manufacturing process where products are made based on predicted demand and pushed to the market, as opposed to being pulled by actual demand.

Just-In-Time

A production strategy that aims to reduce times within the production system as well as response times from suppliers and to customers by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Work in Process Inventory

Items that are in the process of being manufactured but are not yet complete, often tracked for cost accounting purposes.

Cost of Goods Sold

The straight costs associated with producing the goods that a company sells, which include labor and materials.