3. Explain the difference between specific and general training. Why would a com

Question

3. Explain the difference between specific and general training. Why would a company be willing to pay for (at least part of) specific training but not for general training for its employees? (5 points) 4. a) Name 3 factors that have led to the increase in the labor force participation of women within the last 50 years? Explain each one. b) Name 3 factor that suppress the labor force participation of black men? (15 points) 5. Why are earnings next year valued less than earnings this year? How does the calculation of the net present value of education reflect the discounting of future earnings? (5 point) 6. a) How does the demand curve for the product sold by a monopolist differ from that faced by a perfectly competitive seller? b) How does the demand curve FOR LABOR of a monopolist differ from that of a firm that sells its product in a perfectly competitive product market? (20 points)

Explanation / Answer

3. The difference between general training and specific training:

General training as the name indicates is for the general purposes. It is concerned with increasing the general skill and capability of employee which can be used at diversified fields of working with diversified employers. It simply focuses on the general tendencies of the employees/ workers.

Specific training as the name implies is for specific purposes. It is employer specific and as per employer needs. Sometimes employer needs some specific skills which are not available across the industry. Then the employer needs to terrain the employees with specific aspects of the job.

Paying for Specific Training:

From the nature of specific training, we can understand that the specifically trained employees are not easily available or not available at all. It is employer specific, so employer will need to pay for providing these skills to employees. But generally trained employees are available randomly so employer will not pay for these skills.

Note: As per Chegg policy, One question has been answered.

Related Questions

Navigate

• Browse (All)
• Browse 3
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.