Answer to Question #247766 in Economics of Enterprise for Mary

Question

An employer has narrowed a list of applicants down to two individuals. The two candidates look nearly identical on paper, but one of them has earned a four-year college degree. The employer decides to offer employment to the college graduate. What does this example illustrate?

Answer 1

This example illustrates that a college degree is very important in career satisfaction and assessment of one's stability in carrying out a specific job. It is very critical in one's success in the current workforce. This is because more occupations nowadays are requiring advanced education.

Earning a college degree serves in bringing about long financial gain to the holder.