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Marginal Principle in Education
- Consider the marginal principle when deciding whether to invest in education or training.
- Evaluate if one more semester or training module is worth the cost and effort.
Cost-Benefit and Opportunity Cost
- Use the cost-benefit principle and opportunity cost principle to assess investments.
- Consider what you're giving up by choosing education or training, like potential earnings or travel.
Lower Opportunity Cost
- The pandemic has decreased the opportunity cost of education, as alternative activities are limited.
- Evaluate if the current low opportunity cost makes education more attractive despite downsides.