The cost of unemployment to society includes the loss of the goods and services that might have been produced if the unemployed had been employed.

Question

Quizplus · Accepted Answer

Unemployment leads to fewer goods and services being produced, which can result in economic losses for society. This can occur because unemployed individuals are not producing goods and services, which means that their potential contribution to the economy is being lost. Additionally, the reduction in overall economic activity that results from unemployment can have a negative impact on businesses and households, leading to further economic losses.

The Cost of Unemployment to Society Includes the Loss of the Goods