Question

Distinguish between voluntary and involuntary unemployment.

Answer 1

	Voluntary unemployment	Involuntary unemployment
1.	Voluntary unemployment refers to those persons who are voluntarily unemployed, i.e., unemployed by their choice.	Involuntary unemployment refers to a situation when people are able to work and willing to work at the prevailing wage rate but are unable to find work.
2.	The idle rich belong to this category.	It is commonly observed among individuals who are educated and possess specialized skills.
3.	It is not viewed as a major concern.	It leads to significant economic and social issues.
4.	The government is unable to address the issue of people who are voluntarily unemployed.	The government is capable of addressing the problem faced by these individuals.