Others

• Factor immobility refers to the inability of a factor of production to shift from one use to another.
• The immobility of resources can lead to unemployment where, when factors of production are left idle, the society incurs opportunity cost in terms of the forgone output. With a lower output level, society's welfare is below its maximum attainable level.
• Occupational Immobility occurs when there are barriers to the mobility of factors of production between industries and uses.
• Geographical Immobility refers to the lack of willingness and ability of the factors of production to move between/within countries in response to changes in the factor markets' conditions.
• Structural unemployment occurs when the structure of the economy changes and the skills of the labour force does not match the skills required by the economy.
• Market Dominance occurs when a firm has an overwhelming cut of the market share.