A region has experienced the closure of several furniture factories. The government funds a programme that retrains unemployed former factory workers for technician vacancies in other industries.
| Information about the programme | Value |
|---|---|
| Unemployed former factory workers eligible for retraining | 7,500 |
| Eligible workers expected to complete the programme | 80% |
| Completers expected to gain a technician job within one year | 65% |
| Unfilled technician vacancies in the region | 4,200 |
| Average annual output per filled technician job | £48,000 |
Using the information in the table, analyse the likely effects of the programme on the region's productive capacity, economic growth and unemployment.
121 exam-style questions on OCR GCSE Economics 3.7 Supply side policies, covering 3.7.1 What are supply side policies and 3.7.2 Costs and benefits of supply side policies. Each one has a worked solution and a mark scheme showing where the marks go.