The US has a free market system. The country can do mass production in a day. The business sector dictates the supply and demand of the business. The government can decide whether they should approve or deny the business and what they should and should not produce.Brazil has a command and traditional market economy. The government dictates the business. They dictate the supply and demand and the products that should be produced.Russia recently has been recognized as a market economy however they follow the traditional and command market system which is similar Braz
When a person is out of work because she/he left the job she/he had to look for another position, the person is: <u>frictional unemployed</u>.
Transitions in employment that are voluntary within an economy lead to frictional unemployment. Frictional unemployment is a result of both people quitting their jobs willingly and new workers entering the workforce.
Frictional unemployment refers to employees who decide to left the current jobs in search of new ones and people who are just starting out in the workforce. It excludes employees who hold onto their existing position until they find a new one because, presumably, they are never jobless.
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