The Difference Between the Marginal Social Cost and the Private

question 61

Multiple Choice

The difference between the marginal social cost and the private cost of a common property resource represents:

• A) the social discount rate.
• B) a deadweight loss.
• C) is generally negative because the people who use the resources assign higher value to them than other members of society.
• D) the opportunity cost of reducing the resource by one unit for other members of society.

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Definitions:

Training Transfer

The act of successfully applying the competencies, knowledge, and skills gained from a training program to daily tasks and responsibilities in a work setting.

Opportunities to Practise

Situations or activities designed to allow individuals to apply and refine their skills through repeated performance.

Baldwin and Ford

Baldwin and Ford is a model that outlines the factors influencing the transfer of training, including trainee characteristics, training design, and work environment.

Transfer of Training Process

The application of skills, knowledge, or attitudes learned in one context to another context, typically from a training environment to the job.