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As a result, there are four common models of employment: [62] Mainstream economics: employment is seen as a mutually advantageous transaction in a free market between self-interested legal and economic equals; Human resource management (unitarism): employment is a long-term partnership of employees and employers with common interests
Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment. [ 1] Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search ...
Globalization, or globalisation ( Commonwealth English; see spelling differences ), is the process of interaction and integration among people, companies, and governments worldwide. [ 1] The term globalization first appeared in the early 20th century (supplanting an earlier French term mondialisation ), developed its current meaning sometime in ...
Human development (economics) Human development involves studies of the human condition with its core being the capability approach. The inequality adjusted Human Development Index is used as a way of measuring actual progress in human development by the United Nations. It is an alternative approach to a single focus on economic growth, and ...
Employability is related to work and the ability to be employed, such as: The ability to gain initial employment; hence the interest in ensuring that 'key competencies', careers advice and an understanding about the world of work are embedded in the education system [ 1] The ability to maintain employment and make 'transitions' between jobs and ...
Equal opportunity is a state of fairness in which individuals are treated similarly, unhampered by artificial barriers, prejudices, or preferences, except when particular distinctions can be explicitly justified. [ 1] For example, the intent of equal employment opportunity is that the important jobs in an organization should go to the people ...
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has ...
Work or labor (or labour in British English) is the intentional activity people perform to support the needs and wants of themselves, others, or a wider community. [ 1] In the context of economics, work can be viewed as the human activity that contributes (along with other factors of production) towards the goods and services within an economy.