Which of the Following Statements About the Role of Education

question 168

Multiple Choice

Which of the following statements about the role of education in management is TRUE?

• A) Formal education is the best way to acquire the skills a manager requires.
• B) Managerial skills are best learned through experience,not formal education.
• C) Once a manager has a master's degree,additional formal education is unnecessary.
• D) The primary advantage of a college education to managers is that a person can become familiar with current research and thinking on management.
• E) College courses are of little value to first-line supervisors.

---

Definitions:

Price of Labor

The wage or salary paid for the services of an employee or worker; essentially the cost of hiring labor.

Isocost Line

A line on a graph representing all combinations of inputs that have the same total cost.

Price of Capital

The cost of using capital goods, such as machinery or buildings, often expressed in terms of interest rates or rental rates.

Isocost Line

A line representing all combinations of a firm’s inputs that cost the same amount.