Writing Assignment On Understanding and Interpreting the PPF (Term Paper Sample)

Understanding and Interpreting the PPF
Student’s Name
Institutional Affiliation
Understanding and Interpreting the PPF
Attending college is not a cheap affair because students have to spend money on tuition, transport, books, accommodation, and food. People invest in college expenses because they believe it will pay off in the future. If someone decides to work and skips college, they will earn a specific salary. If the same person goes to college and pays for all the expenses, the salary expected later is much higher than if they did not go to college (MASSIANI and PICCO, 2013). Because you chose to go to college instead of working, your opportunity cost is the sum of your college expenses plus the money you could have earned had you decided not to work.
A country should invest in education because events that would cause the PPF for education and consumer goods to the right include technological advancements, improvements in labor productivity such as education, and discovery of new resources. Education creates capital, and capital goods are useful in producing more goods (Li, 2015). Investing more in lower school will have the most significant effect on the PPF. Primary training reduces the illiteracy levels and even opens up the ability to appreciate human capital at a young age. Once lower education is adequately catered for, higher education transition becomes much easier, and the economic development is realized.
The government should fund education more than what the private sector can. When the government subsidizes education, the cost is affordable than when the private sector does. More citizens are encouraged to invest in education, rather than get cheap j...