Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Demand and Supply of Education
Educational needs and aspirations of a population measured in monetary terms constitute demand. If these needs and aspirations are felt, experienced and expressed by parents, their wards or consumers in general, then it is known as ‘private demand’. If the needs and aspirations for education are felt, experienced and expressed by a state, or an organised establishment of society, then it is known as ‘social demand’. Demand is also associated with the capacity to pay for the expected services.
A person willing to pay for a good or service is said to make an ‘effective demand’. In this sense, a wish is not a demand. While ‘needs’ are of current interest/relevance, ‘demand’ relates to the future needs estimated as required over a period of time. Technical know-how and skills needed for meeting the future needs constitute the ‘social demand’ for manpower. Private and social demand for education may be divergent. The state may want all its people to be literate and may be willing to spend for this. But illiterate population may not realise the benefits of education.
The experience of last five decades shows that all parents do not send their children to schools. This is particularly true in rural areas even though the government has opened schools in many such areas. In such a situation, the state strives to achieve higher enrolment in schools by adopting both motivative and coercive policies. While provision of mid-day meals, supply of free books/uniforms, etc. come under the former, the latter includes implementing laws on ‘compulsory schooling’. The supply of education can be viewed both in physical as well as in financial terms. Establishment of adequate number/type of educational facilities which is conveniently accessible to all sections of the society relates to the physical dimension of supply. The resources needed for the establishment of such a supply, measured in terms of money, constitutes the financial dimension of supply.
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
Value Added:Value added in a particular stage of production equals value of total output, less the value of intermediate products (comprising raw materials, capital equipment and o
What is market failure?
demand for risky assets
marries model
Labor cannot be divided from the human being who provides it. The result of the inseparability of labor from the people who gives it, is that the wage for the last hour worked mus
would a rational producer be concerned with the average or marginal product of an input in deciding whether or not to hire the inputs?
Problem : (a) Using examples of Least Developed Countries, explain the: (i) causes of market failures; and (ii) consequences of market failures (b) Describe the common
Domestic Policy Failures: i) There is too much emphasis on "ownership" ownership of bad policies can lead to disasters. So, at times, the Fund and the Bank will need to be "p
You are considering whether or not to go to graduate school. Well… there are many things to consider, of course, such as the type of job you would thus get, the opportunity to live
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd