Which of the Following Is TRUE About Education

question 47

Multiple Choice

Which of the following is TRUE about education?

• A)Education is a private good with external benefits like improved civic responsibilities.
• B)Education is a public good and improves workplace performance.
• C)Education is a public good that decreases government activities.
• D)Education is a private good that only benefits the student.

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Definitions:

Further Process

The subsequent operations or steps taken to enhance or complete the production of goods.

Variable Cost Concept

The variable cost concept implies costs that vary directly with the level of production or sales volume, such as materials and labor.

Markup

The amount added to the cost price of goods to cover overhead and profit when determining the selling price.

Total Cost Concept

An approach that takes into account all costs associated with the production and distribution of goods or services.