Additions to Human Capital Can Be Made Through

question 111

Multiple Choice

Additions to human capital can be made through:

• A) increases in pension benefits
• B) monthly deposits into a savings account.
• C) improved education and on-the-job training.
• D) the purchase of tools and equipment by workers.

Explain the mechanisms through which individuals and groups experience social mobility.

Identify the factors contributing to the creation and maintenance of the upper-upper class.

Understand the relationship between technology, economy, and changes in social stratification.

Grasp the global nature of social inequality and its consequences.

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Definitions:

Total Cost

The aggregate sum of all costs, both fixed and variable, incurred in the production of goods or services.

Output

The total amount of goods or services produced by a company, industry, or economy in a given period.

Total Fixed Cost

The total of all expenses that stay unchanged no matter the production volume or output in the short term.

Total Variable Cost

The total of all costs that vary directly with the level of output or production in the short term.