The demand for new motor vehicles falls due to high oil prices and a move by people toward a greater use of public transport. As a result, motor vehicle manufacturers sack some workers. This would be an example of:

Question

Quizplus · Accepted Answer

Structural unemployment occurs when a shift in the structure of the economy leads to a decrease in demand for certain skills or industries, resulting in job loss. In this scenario, the shift towards greater use of public transport and high oil prices has decreased demand for new motor vehicles, leading to job losses in the motor vehicle manufacturing industry.

The Demand for New Motor Vehicles Falls Due to High