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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

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Final answer:

Higher education leads to increased human capital, employability, and the provision of goods and services in the job market.


Explanation:

Human capital is the economic concept applied in the statement. By gaining higher education, individuals enhance their skills and knowledge, increasing their human capital. This leads to higher employability and the ability to provide goods and services in the job market.


Learn more about Relationship between education and economic concepts

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