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OTE2601 assignment 1 solutions semester 1 2024 ( Full solutions)
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OTE2601ASSIGNMENT 1 SEMESTER 1 2024
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Question 1
1.1. 1.1 In your opinion, what would you consider to be the results of unemployment in
any country (15)
Unemployment in any country can have wide-ranging and severe effects on both the
economy and the overall well-being of its citizens. Firstly, the most obvious result of
unemployment is the loss of income for those who are directly affected. This can lead to
financial hardship, an inability to afford basic necessities, and, in extreme cases,
homelessness and poverty. These individuals may also struggle to maintain their mental
and physical health due to the stress and anxiety caused by their financial instability.
Furthermore, unemployment can have a domino effect on the economy as a whole. When
individuals are out of work, they have less money to spend, which can lead to a decrease
in consumer spending. This, in turn, can negatively impact businesses, leading to more
job losses and a potential downward spiral for the economy. Additionally, when individuals
are unemployed for extended periods of time, they may lose valuable skills and
experience, making it even harder for them to re-enter the workforce when opportunities
arise.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
, 0688120934
Question 1
1.2. 1.1 In your opinion, what would you consider to be the results of unemployment in
any country (15)
Unemployment in any country can have wide-ranging and severe effects on both the
economy and the overall well-being of its citizens. Firstly, the most obvious result of
unemployment is the loss of income for those who are directly affected. This can lead to
financial hardship, an inability to afford basic necessities, and, in extreme cases,
homelessness and poverty. These individuals may also struggle to maintain their mental
and physical health due to the stress and anxiety caused by their financial instability.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is”
without any representations or warranties, express or implied. The author assumes no liability as
a result of reliance and use of the contents of this document. This document is to be used for
comparison, research and reference purposes ONLY. No part of this document may be
reproduced, resold or transmitted in any form or by any means.
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