In economics,
people use marginal analysis to make good decisions to find out the marginal costs
and marginal benefits. For example, when some people are deciding whether to
have a one more year of higher education, they might look at both the marginal costs
and marginal benefits. The marginal costs might be another year of tuition, the
loss of having a full time job, study all day long, and not enough free time to
do their own things. However, there must have some marginal benefits too. For
example, people might get more knowledge, make new friends, and getting a
better job in the future by having one more year of higher education.
Is it true
that college graduates earn one million dollars more in their working lives
than non-graduates? It might not be true, because there are some minorities who
earn a lot of money, which eventually ruin the average of the data.
Some students
leave college after one year, because they might think it’s not going to
benefit them that much in college as going to work. However, leaving college
after one year might not actually let people to get good jobs. It’s risky by
doing that.
My parents always
tell me that in order for me to succeed in the future, I have to work hard and
get into a good college. However, what is contradicting is that my parents didn’t
have a high education, but they still succeed.
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