A Good Education System Is a Determinant of National Competitive

question 69

Multiple Choice

A good education system is a determinant of national competitive advantage and:

• A)is an index of the industrial capacity of the nation.
• B)the cultural supremacy of the nation over others.
• C)is an important factor guiding the location choices of international businesses.
• D)political ascendancy.

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Definitions:

Labor

The human effort, both physical and mental, used in the production of goods and services.

Leisure

Leisure refers to free time when one is not working and has no specific obligations, often used for rest, entertainment, or other personal activities.

Wage Rate

The amount of money paid to an employee per unit of time or per task performed, often expressed as an hourly rate.

Budget Equation

A mathematical representation summarizing the balance between an individual's or organization's income and expenditures.