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What economic concept is applied in this statement?

"By earning higher levels of education, students learn skills and are more likely to be employed. In their jobs, they use their skills to provide goods and services to others."

A. equilibrium
B. law of demand
C. law of supply
D. negative externality
E. positive externality



Answer :

GinnyAnswer

Final answer:

The economic concept applied in the statement is positive externality, where higher education benefits individuals who learn skills and also generates positive effects for society.


Explanation:

Positive externality is the economic concept applied in the statement provided. When individuals obtain higher education, they not only benefit themselves by gaining skills but also provide a positive externality to society by contributing more efficiently to the production of goods and services. This leads to a more skilled workforce, increased productivity, and economic growth.


Learn more about Positive externality here:

https://brainly.com/question/34516942


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