Skilled labor is relatively scarce because ?
Correct answer: C. it is costly to acquire human capital
- A. there are too few teachers
- B. too few student places in higher education
- C. it is costly to acquire human capital
- D. teachers' salaries are too low
Explanation
Skilled labour is scarce because acquiring the necessary education, training, and experience requires time and financial investment. The cost of building human capital limits its supply.
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