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Cost Benefit Approach to Educational Planning Quiz

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Cost Benefit Approach to Educational Planning Quiz

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Questions and Answers

What is the main focus of the cost benefit approach to educational planning?

Prioritizing non-economic benefits of education

Neglecting the social costs of expanding education

Maximizing economic benefits in the short term

Ensuring resources are applied for maximum advantage (correct)

How does the cost benefit approach view education?

As a burden on society

As an expense with no returns

As an investment goal generating returns beyond the immediate (correct)

As a luxury not worth investing in

What does the text suggest is a disadvantage of the cost benefit approach?

It promotes all levels of education uniformly

It underestimates the time required for educational benefits to mature (correct)

It prioritizes developing countries in its application

It overemphasizes non-economic benefits

How does the rate of return approach to educational planning determine educational expansion?

By comparing social costs with benefits from educational expansion Signup and view all the answers

Why is it mentioned that developing countries find it difficult to apply the cost benefit approach?

Due to lack of resources for education Signup and view all the answers

According to Ogunu (2000), what levels of education does the rate of return approach favor promoting?

Those exhibiting high social cost benefit ratios Signup and view all the answers

What are the four basic steps involved in the rate of return approach to educational planning according to Osareren et al. (2013)?

Estimation of the cost of various educational programs, determination of expected benefits, comparison of cost and benefits, comparison of rates of investment Signup and view all the answers

According to Osareren et al. (2013), what does the social rate of return emphasize?

The benefits to the state from investing in a specific form of education Signup and view all the answers

How does education function according to the cost-benefit approach to planning?

As an investment in human capital with expected returns for the economy Signup and view all the answers

In educational planning, what is the significance of comparing the rates of investment?

To determine the optimal allocation of resources among various educational programs Signup and view all the answers

What is the primary concern that may lead to reluctance in applying the rate of return approach to educational planning?

Technical complexity and fear of reducing education provision Signup and view all the answers

How do private rates of return differ from social rates of return in education?

Private rates focus on individual benefits, while social rates consider societal gains Signup and view all the answers