What are the factors affecting social and economic relations of medieval Europe?

What are the factors affecting social and economic relations of medieval Europe?

a. Environment: Changes in the climatic conditions in Europe did impact the society. Till about 10th century the region witnessed thick patches of forests, less availability of agrarian land, cold climatic conditions that impacted the overall productivity.

What are the factors affecting economy?

Six Factors Of Economic Growth

• Natural Resources.
• Physical Capital or Infrastructure.
• Population or Labor.
• Human Capital.
• Technology.
• Law.
• Poor Health & Low Levels of Education.
• Lack of Necessary Infrastructure.

What is the social and economic impact of unemployment?

Unemployment has an impact on the individual and on the economic well-being of the country. The political leadership of every country has to deal with an unemployment problem since unemployment leads to poverty, low quality of life, social, political and economic ills.

What are the social impacts of unemployment?

The personal and social costs of unemployment include severe financial hardship and poverty, debt, homelessness and housing stress, family tensions and breakdown, boredom, alienation, shame and stigma, increased social isolation, crime, erosion of confidence and self-esteem, the atrophying of work skills and ill-health …

What is the social impact of unemployment on the individual?

Unemployment has both individual and social consequences that require public policy interventions. For the individual, unemployment can cause psychological distress, which can lead to a decline in life satisfaction. It can also lead to mood disorders and substance abuse.

What are the social effects of unemployment?

– Unemployment leads to the vicious circle in society by causing problems like illiteracy; poverty; etc. Thus social consequences of unemployment is that it is a social menace as it denies social justice and enhances social unrest by increasing the disparity between have and haven’t.

What are the negative effects of unemployment Class 9?

(ii) People who are an asset for the economy, turn into a liability. (iii) There is a feeling of hopelessness and despair among the youth. (iv) People do not have enough money to support their family. Inability of educated people who are willing to work to find gainful employment implies a great social waste.

What are the negative effects of unemployment?

Concerning the satisfaction level with main vocational activity, unemployment tends to have negative psychological consequences, including the loss of identity and self-esteem, increased stress from family and social pressures, along with greater future uncertainty with respect to labour market status.

What are the effects of unemployment on the economy?

Key Takeaways. The unemployment rate is the proportion of unemployed persons in the labor force. Unemployment adversely affects the disposable income of families, erodes purchasing power, diminishes employee morale, and reduces an economy’s output.

Why is high unemployment bad for the economy?

Societal costs of high unemployment include higher crime and a reduced rate of volunteerism. Governmental costs go beyond the payment of benefits to the loss of the production of workers, which reduces the gross domestic product (GDP).

What is the cause and effect of unemployment?

The level of unemployment varies with economic conditions and other circumstances. The causes of unemployment include increased population, rapid technological change, lack of education or skills and rising cost lead to financial, social and psychological problems.

What are the non economic effects of unemployment?

1. For the individual, noneconomic costs include adverse effects on mental and physical health, adverse effects on the family, higher rates of alcoholism and drug abuse, and higher crime and suicide rates.

Does unemployment cause inflation?

As unemployment rates increase, inflation decreases; as unemployment rates decrease, inflation increases. Short-Run Phillips Curve: The short-run Phillips curve shows that in the short-term there is a tradeoff between inflation and unemployment. As unemployment decreases to 1%, the inflation rate increases to 15%.

How does unemployment affect the government?

Unemployment negatively impacts the federal government’s ability to generate income and also tends to reduce economic activity. When unemployment is high, fewer people are paying taxes to the government. At the same time, unemployment means there are fewer people with disposable income to spend on goods and services.

Is inflation or unemployment worse?

So does inflation. But here’s the part the economists are paid for: evidence that unemployment makes people more miserable than inflation. Higher unemployment and higher inflation correlate with lower levels of reported well-being, the research shows. But the impact of unemployment is much larger.

Why does unemployment increase when inflation decreases?

Optimal rate of inflation If an economy has a very low rate of underlying ‘core inflation’ e.g. 1%, then this is a sign that the economy is growing too slowly. This level of inflation means there is spare capacity and there is an output gap. Therefore, with slow growth, unemployment is likely to be higher.

What are the relationship between inflation and unemployment?

Historically, inflation and unemployment have maintained an inverse relationship, as represented by the Phillips curve. Low levels of unemployment correspond with higher inflation, while high unemployment corresponds with lower inflation and even deflation.

Who said there is relationship between unemployment and inflation?

The Friedman-Phelps Phillips Curve is said to represent the long-term relationship between the inflation rate and the unemployment rate in an economy.

Why is inflation bad for the economy?

Inflation erodes purchasing power or how much of something can be purchased with currency. Because inflation erodes the value of cash, it encourages consumers to spend and stock up on items that are slower to lose value. It lowers the cost of borrowing and reduces unemployment.

Is inflation bad or good for the economy?

Inflation is viewed as a positive when it helps boost consumer demand and consumption, driving economic growth. Some believe inflation is meant to keep deflation in check, while others think inflation is a drag on the economy.

What are the positive effects of inflation on the economy?

Answer: Inflation favourably impacts the economy in the following ways: Higher Profits since producers can sell at higher prices. Better Investment Returns since investors and entrepreneurs receive incentives for investing in productive activities. Increase in Production.

Is inflation good or bad for stocks?

However, over shorter time periods, stocks have often shown a negative correlation to inflation and can be especially hurt by unexpected inflation. When inflation rises suddenly or unexpectedly, it can heighten uncertainty about the economy, leading to lower earnings forecasts for companies and lower equity prices.