Question : Statement 1: Labor market flexibility is essential for promoting employment growth in India.

Statement 2: Labor market flexibility refers to the ease of hiring and firing workers.

Option 1: Both statements are true.

Option 2: Both statements are false.

Option 3: Statement 1 is true, statement 2 is false.

Option 4: Statement 1 is false, statement 2 is true.


Recommended : Get important details about BEL First Grade College, Bangalore. Download Brochure
Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 11th Jan, 2024

Correct Answer: Both statements are true.


Solution : The correct answer is (a) Both statements are true.

Statement 1 is true. Labor market flexibility is considered important for promoting employment growth in India. It refers to the ability of the labor market to adjust and respond to changes in demand and supply conditions, allowing for smoother transitions between jobs and facilitating the creation of new employment opportunities. Flexible labor markets can lead to increased job creation, entrepreneurship, and investment, which can contribute to overall employment growth.

Statement 2 is also true. Labor market flexibility does refer to the ease of hiring and firing workers. It encompasses factors such as employment protection regulations, contract types, dismissal procedures, and flexibility in working arrangements. The ease of hiring and firing workers is a key aspect of labor market flexibility as it enables employers to adjust their workforce according to changing business needs and economic conditions.

Compare Colleges

College Comparison based on Courses, Placement, Rank, Fee

Compare Now

Know More About

Related Questions

UPES Dehradun | B.Com Admissi...
Apply
#41 in NIRF | 50 LPA Highest CTC, Ranked #1 in Academic Reputation in India by QS World University Rankings
UPES Dehradun BA Admissions 2025
Apply
Ranked #46 amongst Universities in India by NIRF | Ranked #1 in Academic Reputation in India by QS World University Rankings
UPES | BBA Admissions 2025
Apply
#41 in NIRF, NAAC ‘A’ Grade | 100% Placement, up to 30% meritorious scholarships
Pearl Academy BBA 2025
Apply
No. 1 Design & Fashion Institute by ASSOCHAM, India Today, Outlook and The Week rankings
Woxsen University BBA (Hons.)...
Apply
AACSB, Business Graduates Association, AMDISA Member | Merit-Based Scholarships
UPES Dehradun BCA Admissions ...
Apply
Ranked #46 Among Universities in India by NIRF | 2570+ Students Placed | 96.55% Placement, 700+ Recruiters
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books