The skills like electrical mechanical skills

Running head: BUSINESS ECONOMICS
Business Economics
Name of the Student
Name of the University
Author note

BUSINESS ECONOMICS1
Table of Contents
Answer to Question 2......................................................................................................................2
Answer to Question 4......................................................................................................................3
Answer to Question 6......................................................................................................................4
Answer to Question 7......................................................................................................................5
References........................................................................................................................................6

BUSINESS ECONOMICS2
Answer to Question 2
(a) The number of seasonal unemployment in Estralia were 1750 as workers stayed
unemployed after the harvesting season is over (Fujita & Moscarini, 2017).
(b) There was a mismatch between the skills like electrical mechanical skills due to advent of
new electronically advanced equipment. As a result, 250 technicians lost their job. Therefore, the
number of the structural unemployed were 250.
(c) There was decline in demand for motor vehicles. It led to lay off 800 motor vehicle
workers in Estralia. Thus, the number of cyclical unemployed in Estralia were 800.
(d) The 370 people were out of the work due to depressed economy. Thus, it is a type of
cyclical unemployment (Bade & Parkin, 2015).
(e) The technological advancement led to job loss of the workers in. Thus, it is a type of
structural unemployment. It is also known as technological unemployment. There is clear
distinction between cyclical, structural and frictional unemployment. When workers shifts their
jobs due to some reasons, it is considered as the frictional unemployment. It can be for relocation
or looking for better job. The business contraction may occur due to decline in demand for the
goods or services in a particular industry. As a result, the organization lay off some employees in
order to curtail cost of the organization. This type of unemployment is known as cyclical
unemployment. It creates a huge job loss due to change in demand condition and economic
condition. Therefore, these three types of unemployment can be distinguished from each other.