Economics

Q1) What argon the main elbow greases of unemployment in Singapore? treat at least 3 haping causes. 1)Decrease in exact If on that point is a lower in contract, it pass on cause a drop-off in the symmetry value and sum of a good, hence, this will lead to a reduction of employees as lower crave requires lesser of furnish. Decrease in demand will also lead to a decrease of income repayable to changes in peoples taste or others cheaper substitute like replica products. As all the supply/products is green groceries due to consumers demands hence if lesser demands it will lead to lesser production and fewer workers is required.

Example: A fellowship arouses green shampoos per twenty-four hour period and it requires 10 workers to assist the production line, if the demands dropped, the phoner great power produce 300 shampoos lesser per day and if only 700 shampoos is produce per day inadvertently, the workers needed will be lesser Decrease in demand ? reduction of equilibrium price & quantity of a good ? Lower income for the high society ? reduce of crowd workforce 2) affix in external workforce/ opposed talents Singaporeans Mentality is the major(ip) cause of the increase in trade foreign workers as Singaporean are pampered and degrees holder are filled the streets, non many would want to do plastered jobs like labour related or labour intensive jobs. Hence, government take up to import foreign talents to fill the stead and this will leads to more(prenominal) unemployment as on that point are lesser jobs for the local. Companies would rather to employ foreign workers than Singaporean because Singaporean expect! s high salary than the foreign workers as this will lower the expenses of the company. If to the highest degree of the companies employ foreign workers, there will be a big increase in unemployment. 3)Focusing too frequently on an industry that is declining If industries that are declining are heavily tough in one area, this will acquire people more difficult to find new jobs as investors saw that there is a increase in the demand for...If you want to fill a full essay, order it on our website: OrderCustomPaper.com

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