Which of the following makes the workers highly vulnerable?
Casualisation of workforce
Worker vulnerability refers to the state where workers face insecurity regarding their job, income, rights, and working conditions. Certain types of employment relationships offer more stability and protection, while others expose workers to greater risks and uncertainties.
Let's examine each option to understand how it impacts the vulnerability of workers:
Comparing the options, the casualisation of the workforce directly describes a situation where the employment arrangement itself strips away job security, benefits, and protections, leading to high vulnerability for the workers involved.
The shift towards more casual and temporary work arrangements significantly increases the vulnerability of workers. They often lack the safety nets and legal rights associated with more stable forms of employment, leaving them exposed to economic shocks and unstable working conditions.
| Employment Type | Job Security | Benefits (Leave, Insurance) | Vulnerability Level |
|---|---|---|---|
| Casual | Low | Often None or Limited | High |
| Self Employment | Depends on Market/Business | Must Provide Own | Different type of risk, not typically high vulnerability in terms of basic worker rights |
| Salaried | High (Generally) | Provided (Generally) | Low (Generally) |
| Term | Explanation |
|---|---|
| Casualisation | Increasing use of temporary or contract-based labor with limited benefits and security. |
| Precarious Work | Work that is insecure, poorly paid, and unprotected, often associated with casualisation. |
| Worker Rights | Legal entitlements related to minimum wage, working hours, safety, and job security. |
The trend of casualisation is part of a broader phenomenon called the rise of precarious work. Precarious workers often find it difficult to plan for the future due to uncertain income and employment. They may lack access to training opportunities and career progression paths available to permanent employees. This can have long-term negative impacts on individual welfare and the overall economy, potentially increasing inequality.
Governments and labor organizations often discuss ways to address the challenges posed by casualisation, such as strengthening labor laws, improving social safety nets, and promoting access to training for casual workers.
In the calculation of GDP by Expenditure method, what should be added from the following:
(A) Private Final Consumption expenditure
(B) Investment Expenditure
(C) Net imports
(D) Net exports
(E) Government Final Consumption Expenditure
Choose the correct answer from the options given below:
Fill in the blanks:
In a modern economy, money comprises of _______ and _______.
If Marginal Propensity to Consume (MPC) is 4 times the value of the Marginal Propensity to Save (MPS), determine the value of MPC:
Match List-I with List-II:
| List-I | List-II |
|---|---|
| (A) Ex-ante saving | (I) Actual Saving |
| (B) Ex-post consumption | (II) Planned Saving |
| (C) Ex-ante consumption | (III) Planned Consumption |
| (D) Ex-post saving | (IV) Actual Consumption |
Identify the Stock variable/variables:
A. Income
B. Output
C. Capital
D. Profits
E. Money Supply