Employment Growth Informational and other Issues test - 10

Fear of unemployment made workers hostile to the technology. When Spinning Jenny was introduced in the woollen industry, women who survived on hand spinning began attacking the new machines.

India ranks 15th in the services output and it provides employment to around 23% of the total workforce in the country. The sector includes construction, trade, hotels, transport, restaurant, communication and storage, social and personal services, community, insurance, financing, business services, and real estate. Service sector contributes the most in the Indian GDP.

New economic reforms in India are the neo-liberal polices introduced by the government during 1991 and later years.  Main features of it includes Dereservation of the industrial sector, Industrial delicensing policy, Opening up of the economy to foreign competition, Liberalization of trade and investment,  Financial Sector Reforms, Reforms related to the Public sector enterprises, Abolition of MRTP (Monopoly and Restricted Trade Practice) Act.

A process of centralised planning was introduced in Russia as the Russian economy had suffered losses in the civil war. There were targets set for five years to develop the economy. These were the five years long plans that boosted the economy and industrial growth in Russia.

Structural unemployment is a form of unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded in workers by employers (also known as the skills gap). Structural unemployment is often brought about by technological changes that make the job skills of many of today's workers obsolete.

Organised sector covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work. They are registered by the government and have to follow its rules and regulations.
Workers are paid more if they work overtime. apart from this, they get paid leaves, payment during holidays, provident fund, gratuity etc.

1:The activities of the 3 economic sectors  produce a large number of goods and services. The economic status of nation depends on how much goods and services are produced and on how many people work in each sector.
2:The sum of production in the three sectors gives what is called GDP that is Gross Domestic Product of a country. It is the value of all final goods and services produced within a country during a particular year.

1:Underemployment occurs when a person does not work full time or takes a job that does not reflect their actual training and financial needs.
2:That is, their job doesn't use all their skills and education, or provides less than full time work.

Banking services is not a primary activity. It comes under tertiary activity. A bank is a financial institution that accepts deposits from the public and creates credits.

1:The enterprises or places of work where the terms of employment are regular and therefore, people have assured work. They are registered by government and have to follow rules and regulations. 
2:Workers enjoy security of employment, they work only fixed number of hours. If they work more they get paid more. Worker enjoy benefits like paid leave, Provident Fund and medical benefits.