The Two Basic Ways for Workers to Acquire Human Capital

question 73

Multiple Choice

The two basic ways for workers to acquire human capital are

• A) formal education and "learning by doing."
• B) purchases in the capital market and trade.
• C) increases in the capital stock and increases in total factor productivity.
• D) training and intuition.

Recognize the impact of group norms and societal values on moral decision-making.

Analyze criticism and limitations of existing moral development models.

Examine the relationship between ethical leadership and organizational/community wellbeing.

Differentiate between ethical theories and their application to real-world scenarios.

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Definitions:

Machine-Hours

A measure of the amount of time machines are operated in the production process.

Activity-Based Costing

A technique in accounting that allocates expenses to products or services according to the activities and resources utilized in their creation.

Overhead Cost

encompasses indirect expenses related to the production process, such as utilities, rent, and administrative costs.

Product B

A general term used to refer to a specific product or item within a company's lineup, differentiated from other products.