Earning Potential Flashcard

Front

What is earning potential?

Back

The top salary you can possibly earn

Front

How do economic conditions influence earning potential?

Back

They can increase or decrease it.

Front

Which factor is directly related to the type of job you can get?

Back

Career choice

Front

What is the impact of having strong job-related skills?

Back

Positive impact

Front

What is productivity?

Back

The quality and ability to generate goods and services

Front

Which of the following is an example of human capital? A company's office building, A worker's skills and knowledge, A company's stock shares, A worker's uniform

Back

A worker's skills and knowledge

Front

What is NOT considered part of human capital? Education and training, Physical strength, Personal relationships, Company profits

Back

Company profits

Front

How do career choice, education, and job-related skills affect earning potential?

Back

They increase earning potential.

Front

What does opportunity cost refer to?

Back

The benefit of the next best alternative given up.

Front

What is productivity?

Back

The efficiency of production.