Question : The concept of "voluntary unemployment" refers to:
Option 1: Individuals who are unemployed and actively seeking employment
Option 2: Individuals who choose not to work despite being capable of doing so
Option 3: Individuals who are unemployed due to changes in the business cycle
Option 4: Individuals who are unemployed and discouraged from seeking employment
Correct Answer: Individuals who choose not to work despite being capable of doing so
Solution : The correct answer is (b) Individuals who choose not to work despite being capable of doing so.
Voluntary unemployment refers to a situation where individuals choose not to work, even though there are job opportunities available and they possess the necessary skills and qualifications for employment. It is a conscious decision by individuals to remain unemployed, often due to personal preferences, lifestyle choices, or other reasons. Voluntary unemployment is different from involuntary unemployment, which occurs when individuals are actively seeking employment but are unable to find suitable jobs.
