1.The approach has got no control over such factors as the price of education. It fails to elaborate on who should shoulder the costs of education.
2.The approach has got no control over the absorptive capacity of the economy for trained personnel hence leads to educated unemployed.
3.The approach does not in any way lay claim to whether the resources expended to education are economically allocated and to that extent the approach is poor. The approach ignores the quality and quantity of manpower required in an economy
4.The approach does not take into account the concept of investment in man but much on consumption of education.
5.The approach may be appealing to citizens of a country but in the long run it may give rise to dire consequences to the state as educated masses may cause a social political revolution to agitate for their rights including employment.
sharon kalunda answered the question on March 7, 2019 at 10:00