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The educational system [1] generally refers to the structure of all institutions and the opportunities for obtaining education within a country. It includes all pre-school institutions, starting from family education, and/or early childhood education, through kindergarten, primary, secondary, and tertiary schools, then lyceums, colleges, and faculties also known as Higher education (University ...
Akarowhe found that Economics Education can be seen as a process, science and product: [2] as a process - economics education involves a time phase of inculcating the needed skills and values on the learners, in other words, it entails the preparation of learners for would-be-economics educator (teachers) and disseminating of valuable economics information on learners in other for them to ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Its precursor, the Carnegie Forum on Education and the Economy, was established by the Carnegie Corporation of New York in 1985. [23] [non-primary source needed] The National Board for Professional Teaching Standards was established in response to a 1986 report by Marc Tucker, "A Nation Prepared: Teachers for the 21st Century."
Education economics or the economics of education is the study of economic issues relating to education, including the demand for education, the financing and provision of education, and the comparative efficiency of various educational programs and policies. From early works on the relationship between schooling and labor market outcomes for ...
In common usage, as in accounting usage, cost typically does not refer to implicit costs and instead only refers to direct monetary costs. The economics term profit relies on the economic meaning of the term for cost. While in common usage, profit refers to earnings minus accounting cost, economists mean earnings minus economic cost or ...
Moreover, critics further argue that the current political landscape of this country, which favors market-based solutions to social and economic problems, has eroded trust in public institutions and has undermined political support for an expansive concept of social responsibility, which subsequently results in a disinvestment in the education ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.