Fundamentals of Business

Extract from the Global 2000 Rank by market value

Extract from the Global 2000 Rank by market value (Forbes world largest public companies)

Sectors of INDUSTRY determine the market and factors of production production. A reason why countries like China, India, Turkey, Indonesia, Vietnam, Laos are popular for offshore manufacturing, they are at the secondary stage, hence they have got the factors of production with exception of capital in place and on a cheap.

Impact of unemployment on society
Individual costs
Not having a job when a person needs one can make it difficult to meet financial obligations such as purchasing food to feed oneself and one's family, and paying one's bills; failure to make mortgage payments or to pay rent may lead to homelessness through foreclosure or eviction. Being unemployed, and the financial difficulties and loss of health insurance benefits that come with it, may cause malnutrition and illness, and are major sources of mental stress and loss of self esteem which may lead to depression, which may have a further negative impact on health.

Lacking a job often means lacking social contact with fellow employees, a purpose for many hours of the day, lack of self-esteem, mental stress and illness, and of course, the inability to pay bills and to purchase both necessities and luxuries. Another cost for the unemployed is that the combination of unemployment, lack of financial resources, and social responsibilities may push unemployed workers to take jobs that do not fit their skills or allow them to use their talents.

The feared cost of job loss can spur psychological anxiety, weaken labour unions and their members sense of solidarity, encourage greater work effort and lower wage demands, and/or abet protectionism. This last means efforts to preserve existing jobs (of the "insiders") via barriers to entry against "outsiders" who want jobs, legal obstacles to immigration, and/or tariffs and similar trade barriers against foreign competitors. The impact of unemployment on the employed is related to the idea of Marxian unemployment. Finally, the existence of significant unemployment raises the oligopsony power of one's employer: that raises the cost of quitting one's job and lowers the probability of finding a new source of livelihood.