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Find the weighted average.
-A student earned grades of B, B, A, C, and D. Those courses had these corresponding numbers of credit hours: 4, 5, 1, 5, 4. The grading system assigns quality points to letter grades as follows: A = 4, B = 3, C = 2, D = 1, and
F = 0. Compute the grade point average (GPA) and round the result to two decimal places.
Free Market
An economic system where prices are determined by unrestricted competition between privately owned businesses, without excessive government control or intervention.
Externality
A consequence of an economic activity experienced by unrelated third parties; it can be either positive (beneficial) or negative (harmful).
Education's Benefit
Refers to the positive impacts of education on an individual's abilities, earning potential, and societal contributions.
Externality
A cost or benefit arising from an economic activity that affects third parties who did not choose to incur that cost or benefit.
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