Business, 17.03.2020 03:14 ondray3435

Bob is looking for work afterschool, but everywhere he fills out an application, the managers say they always have alot more application than open positions. Tom has a law degree. Several firms have made him an offer, but he thinks he might be able to find andirm where his talents could be put to better use?
1. Bob is structurally unemployed, and Tom is frictionally unemployed
2. Bob and Tom are both frictionally unemployed
3. Bob and Tom are both structurally unemployed

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Answer from: Tnguyen8160

Option A; BOB IS STRUCTURALLY UNEMPLOYED, AND TOM IS FRICTIONALLY UNEMPLOYED.

Explanation:

Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers.

Frictional unemployment is a form of unemployment where workers are jobless and looking for job in a healthy economy. It is sometimes called search unemployment and can be based on the circumstances of the individual.

Bob is unemployed but not voluntary but due to more application than open positions everywhere he fills out an application. While Tom, even though, several firms have made him an offer is jobless because he wants a firm where he can put his talents to better use.

Therefore, BOB IS STRUCTURALLY UNEMPLOYED, AND TOM IS FRICTIONALLY UNEMPLOYED.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

If its a multiple choice test, then it should be a conservationist.

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