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Concepts of Education and Economic Development - Education
Education has a very broad connotation. It is not to be straitjacketed with schooling. Any experience of life that results in learning is education. Learning may be characterised either by modification of behaviour or a change in thinking style. Schooling is a planned and organized learning process. The skills transmitted by an agriculturist to his offspring, by an innovative farmer to his fellowmen, by a mother to her children are also a form of education that may result in directly productive and tangible experiences or lead to the development of desirable habits of life.
This is termed as informal education. Knowledge and skills developed in training programmes, apprenticeship programmes, adult education centres are also not like formal schooling. Still they are educative and contribute to economic growth. They are known as non-formal education. Formal education is normally referred to the programmes of school and college education.
Assume in the Solow growth model that s=.25, n=.02, d=.08, and f(k)=k^3. A) Assume that z=2. What is the steady state level of capital per worker and consumption per worker?
A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas
Provide an economic explanation of what you have shown in your diagrams above. Discuss what happens to Iceland's (1) level of economic output, (2) employment, (3) real wage rate,
what is an iso curve
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Average product of a factor is the total output produced per unit of the factor employed thus, Average product = total product / number of units of factor employed If Q stand
Tax Policy Implementation: Take, e.g., the case of tax policy. It attempted to raise resources by a combination of direct and indirect taxes to finance a large part of increa
Imagine a country where plane and train services between two main cities are both provided by private companies, and, from a consumer perspective these services are viewed as subst
equilibrium price and output.
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
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