Get premium membership and access questions with answers, video lessons as well as revision papers.
Though economics of education is important the tools of economics of education should not be
applied widely because of the following reasons.
1. The tools developed to analyze education applied only to purely economic commodities,
but education is a unique commodity that is determined by political and social factors,
however the economic tools of analysis which are used to analysis education are made for
purely economic commodities.
2. While using economic tools of analysis we need to cultivate a degree of modest, about
what economic tools can and cannot analyze in education.
NatalieR answered the question on June 20, 2022 at 05:13