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a) Direct costs – The higher the cost, the lower the demand and vice versa e.g. school fees,
textbooks, uniforms
b) Indirect /opportunity costs – if opportunity costs are high demand for education will be
low and vice versa.
c) Social factors e.g. educational level of parents and the prevailing fashion in the society as
far as education is concerned e.g. masters degree is becoming a fashion.
d) Cultural variables – the education is likely to decrease if it threatens the stability of
popular traditions e.g. moranisms and cattle economy for some communities.
e) Wage /income differentials – The differentials between self employment and forced
employment sectors will determine demand for education. If the income differential is
skewed in favour of modern sector employment, the greater will be the demand for
education and vice versa.
f) Finding employment – The higher the level of educated unemployment the lower will be
the demand for education and vice versa.
NatalieR answered the question on June 20, 2022 at 05:52