Jobs That Require More Costly Training Generally Have

question 51

Multiple Choice

Jobs that require more costly training generally have

• A)higher wages
• B)lower employment levels
• C)less human capital required
• D)higher personal risk levels
• E)lower wages

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Definitions:

Barter

The direct exchange of goods or services for other goods or services without the use of money.

Benevolence

The quality of being well-meaning and kindly; a desire to help others.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits one could have received by taking the alternative action.

Manufacturing

The process of converting raw materials or components into finished goods through the use of tools, human labor, machinery, and chemical processing.