Benefits of education, Microeconomics

Benefits of Education

The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/received through money it is known as ‘monetary benefit’. If it is in terms of knowledge, skills, self-confidence (including personality development and mental health), it is known as ‘non-monetary benefit’.

Monetary benefits are also therefore called ‘direct benefits’ while non-monetary benefits are referred to as ‘indirect benefits’. If the returns are to individuals (i.e. a student or parents) it is ‘private benefit’. If the returns are to a government or society (e.g. income tax paid by individuals, benefits to the community accruing from educated population in general, etc.) it is known as ‘social benefit’. Social returns, like social cost, are also composed of both private earnings as also returns/benefits to society.

Posted Date: 12/17/2012 3:13:34 AM | Location : United States







Related Discussions:- Benefits of education, Assignment Help, Ask Question on Benefits of education, Get Answer, Expert's Help, Benefits of education Discussions

Write discussion on Benefits of education
Your posts are moderated
Related Questions
state the law of downward sloping demand

1. Nonwage Determinants of Labor Supply Suppose that two jobs are exactly the same except that one is performed in an air-conditioned workplace. How could you measure the value wor

Change in the price of a related good: Goods relate to each other in two ways. Goods are either complements or substitutes. Complementary goods are goods with joint demand. The

demand elasticity in urdu

What are the determinants of income elasticity of demand?  There are three determinants of income elasticity of demand. These are: Degree of necessity of a good: In a developed

Functions of the WTO: The WTO performs the following functions:   •  It administers through various councils and committees the 29 agreements contained in the final act of

Q. Define government surplus? Surplus, Government:It's a government surplus exists when a government's tax revenues surpasses its total spending (including both program spendin

With the recession, average incomes have fallen from $44,375 to $41,720.  Before the recession Groucho's Gizmos sold 600 gizmos a month. As an economics, predict the number of gizm

What is Modern Economics? Modern Economics: Modern economics mostly developed within last sixty years, methodically studies individuals’ economic behavior as well as econo

if the inverse demand curve is p=120-Qand the marginal cost is const ant at 10 ,