Learning effect (economics)
Encyclopedia
In economics
, the learning effect is the theory that education
increases product
if add in results in higher wage
s.
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
, the learning effect is the theory that education
Education
Education in its broadest, general sense is the means through which the aims and habits of a group of people lives on from one generation to the next. Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts...
increases product
Product
- Business :*Product , an item that ideally satisfies a market's want or need**Product , a deliverable or set of deliverables that contribute to a business solution**Nanoproduct, a product that has been enhanced with nanotechnology...
if add in results in higher wage
Wage
A wage is a compensation, usually financial, received by workers in exchange for their labor.Compensation in terms of wages is given to workers and compensation in terms of salary is given to employees...
s.