, PLEASE USE THIS DOCUMENT AS A GUIDE TO ANSWER YOUR ASSIGNMENT
There are five macroeconomic objectives. For this assessment, you need to compile a
PowerPoint presentation to explain the macroeconomic objective.
Slide 1: Full Employment - Definition/Description
Full Employment refers to a situation where all available factors of production, particularly labor, are
fully utilized in the economy. It is the point at which the unemployment rate is at its natural or
minimum level, with no cyclical or involuntary unemployment. Full employment doesn’t imply zero
unemployment, as some frictional unemployment (e.g., between jobs) or structural unemployment
(e.g., due to mismatched skills) always exists. In the South African context, achieving full
employment is crucial for economic stability and social cohesion, addressing high unemployment
rates that contribute to social unrest.
There are five macroeconomic objectives. For this assessment, you need to compile a
PowerPoint presentation to explain the macroeconomic objective.
Slide 1: Full Employment - Definition/Description
Full Employment refers to a situation where all available factors of production, particularly labor, are
fully utilized in the economy. It is the point at which the unemployment rate is at its natural or
minimum level, with no cyclical or involuntary unemployment. Full employment doesn’t imply zero
unemployment, as some frictional unemployment (e.g., between jobs) or structural unemployment
(e.g., due to mismatched skills) always exists. In the South African context, achieving full
employment is crucial for economic stability and social cohesion, addressing high unemployment
rates that contribute to social unrest.
