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Explain the distinction made in this chapter between education and schooling. Give some examples of each. Describe the limitations of schooling, and explain its advantage over less formal types of education.
Job Satisfaction
The degree to which an individual feels fulfilled, content, and happy with their job.
Productivity
A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in a production process.
Hindsight Bias
The tendency to believe, after an event has occurred, that one would have foreseen or predicted the event — commonly known as the "I-knew-it-all-along" effect.
Exaggerate
To make something seem larger, more important, better, or worse than it really is.
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