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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

Given limited resources, choices must maximize benefit to the:

Given limited resources, choices must maximize benefit to the:

(a) Economy
(b) Society
(c) Both economy and society
(d) None
✅ Correct option: (c)
Explanation: Resource allocation should benefit both society and economy.

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