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economic foundations of education
  • Macroeconomics is the branch of economics that deals with
  • According to Classical models, the level of employment is determined primarily by
  • The simple correlation of lifetime earnings with education is not necessarily
  • According to economics of education, the yield of education is expressed as
  • The field in which economics and education meet is
  • Economics of education is also termed as
  • Economics of education is basically a study of
  • Early works in economics of education studied the relationship between
  • In European countries, most education expenditure is
  • Physical capital along with the ______ defines profitability in education
  • Dominant model for demand of education is based on
  • Countries with high enrolment/graduation rates have grown
  • Non-formal education is important because many skills come from outside
  • Academic inflation results in an excess of
  • Education serves as an agent for
  • Social capital yields
  • Major cause of low productivity of many workers
  • Economy cannot work without modern
  • Manpower forecasting is directly relevant to
  • Education is an industry because
  • In poor countries, demand vs supply puts strain on
  • Developing nations have limited
  • Challenge for educational economists is
  • Development of education by foreign nationals is not desirable because of
  • Human capital concept connects
  • Cost of education varies with
  • To determine educational investment volume, we need
  • Economics of education studies why people decide
  • Economics of education studies education as preparation for
  • While discussing economics of education, it is generally believed that people with more education:
  • In economic perspective, the process of education can be analysed as a/an:
  • Economics of education may also measure profitability of people in the light of the:
  • Education which increases productive capacity may be termed as:
  • Education which does not increase productive capacity directly may be termed as
  • Any expansion of primary education sector of a country leads to:
  • Reform of education aligned with economic needs is important for:
  • Return from education may be determined by comparing school expenditure with:
  • It is generally believed that ______ is improved by education in human affairs.
  • It becomes difficult to absorb manpower because education has produced:
  • Interest in economics of education grew because of:
  • Educational policy aligned to economy may result in:
  • Modern jobs previously done by less educated people are now done by:
  • Education economists analyse factors that determine ______ education.
  • Responsibility of education economists is to analyse impact of education on:
  • Primary purpose of economics of education is to identify opportunities for:
  • Given limited resources, choices must maximize benefit to the:
  • Main rationale for Public-Private Partnership (PPP) is the private sector’s role in:
  • Economics is a powerful tool for understanding:
  • Involuntary unemployment means that
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  2. economic foundations of education
  3. Education is an industry because

Education is an industry because

Education is an industry because

(a) It has workers
(b) It has investments and profits
(c) It has inputs and outputs
(d) None
✅ Correct option: (c)
Explanation: Like industries, education uses inputs to produce outputs.

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