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Describe Some of the External Benefits Associated with Education

question 27

Essay

Describe some of the external benefits associated with education. What can government do to encourage production of the efficient amount of education?


Definitions:

Financial Assets

Assets that derive value because of a contractual claim, such as stocks, bonds, and bank deposits.

Earn Revenue

The process by which businesses generate income through the sale of goods, provision of services, or other primary business activities.

Accounting Function

The process of recording, summarizing, analyzing, and reporting financial transactions of a business to oversight agencies, regulators, and the IRS.

Finance Function

The role within a company that encompasses tasks related to managing finances, including treasury, budgeting, and financial reporting.

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