ECONOMICS
HUMAN CAPITAL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It can increase your income potential.
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There are opportunity costs associated with it.
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It increases your market value.
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It is the only way to generate more income.
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Detailed explanation-1: -Answer and Explanation: No, there are many successful people who do not have a formal education. However, it is far less likely to become successful without a formal education. In fact, the more education one has, the more one is likely to earn.
Detailed explanation-2: -College is expensive. Most people do not have enough money to pay for their college education upfront, requiring them to take out loans. You may go out into the job field in debt.
Detailed explanation-3: -A degree shows you can learn new skills quickly However, Watson said that the key to being successful in your career to find what you want to do and to work hard at it. She explained that it’s important to remember that not everyone takes the same route in their career and a degree isn’t necessary for all jobs.
Detailed explanation-4: -Higher education does not serve as a guarantee to financial success because the skills acquired are only a part of the skillset required to be financially successful. Man management and communication skills, for example, vary from person to person.