i want summraze for paragraph 2,4 and 5 A. The following is an excerpt from an a
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i want summraze for paragraph 2,4 and 5
A. The following is an excerpt from an article that applies economic principles to personal experien Read the excerpt. worth do fact, Da Comparative Advantage and Job-Hunting of education orTIP The concept of comparative advantage is Britain a 1 an ability Writing words down helps not just an abstraction. Nor is it applicable remember them. Create flashcards (using Ricardo postulat only to entire national economies. A job-hunter t do certain tasks, prior workvocabulary would do well to recognize his or her personal generator, or an app) or c comparative advantages and use this recognition in the field, and so ndex cards, an online on. The candidate a vocabulary study list both to choose the best jobs to apply for and to is greate buy the seeker of comp stand out among other job-seekers. The savvy presents such qualifications, and in return the prospective person looking for a job will look at the galaxy of employment possibilities through the lens of employer assigns a certain salary to the position (plus a package of other money-related be such as health insurance). But other factors also figure into the calculus, such as location corporate culture, the character of one's fellow workers, and innumerable other features of the job. Without such nonmonetary enticements, the position's fruitfulness factor would decrease, and the OC of applying for it would increase nefits global economics. 2 Perhaps the clearest focus provided by comparative advantage theory is on the phenomen hunter suit him or her very well, an OC is incurred. He or she cannot spend that time applying for more appropriate positions. The costs might not be measured in money (unless you assign a certain 4 The lessons of comparative advantage theory dollar value to an applicant's time) but could be extend beyond the realm of the job search. There quantified in terms of some other unit you might is also the matter of the worker's own comparative invent to measure success or satisfaction, some advantages in terms of skills, a calculus that looks sort of fruitfulness factor. Potential employment very much like what economists do in figuring that has a high fruitfulness factor, that is, a strong chance of being offered to a candidate and someone looking for web-development work in a a strong chance of being accepted, is far better job market where many applicants are competing on of opportunity cost (OC), If a job- spends time applying for jobs that do not 120 110 100 90 a nation's comparative advantage. Imagine for a job-seeker to pursue than employment with a low fruitfulness factor. Such a job would be unlikely to or both. So a candidate would incur higher OC by spending time applying for low-fruitfulness positions rather than jobs that are better suited to him or her for every available position. Our web developer is good at coding in Java and C++, and she has two years of web-development experience. Not B. Rerea the wo . Su . Su be offered or unlikely to be accepted, bad, but nearly every other job-seeker in that field can say the same. It is best for her to avoid competing for jobs based on those skills alone even though she may feel that she's better than 3 Of course, in calling a position "better suited" and assigning a fruitfulness factor, we have to consider a number of attributes, most of which are only indirectly about money. Some relate to the likelihood that an offer will be made. Others relate to the likelihood that an offer will be most competitors. By analyzing her comparative advantages rather than absolute skills, she might recognize that she has other, less common talents she wants to leverage, something like proficiency in Spanish or a sophisticated knowledge of film accepted. The job-seeker's skills and experience are the main criteria for appropriateness to the stated requirements of the job-a given level production. If there are employers that value quite likely to enjoy working there-she stands above the crowd. those characteristics-and if there are, she is For more ab 36 ECONOMICS PART 1Explanation / Answer
1. Summary for paragraph 2:
Here, we are taking a closer look at job hunting and what would be advantageous to the job seeker. A person who is looking for a job is likely to apply to a lot of places with a lot of designations. However, it is fruitful for him, if he spends his time and energy on carefully selecting the jobs that suit best his skills and needs. If he spends his entire time applying to places that require something that he does not have, he is wasting his time as he would probably not be selected in such places. Therefore, by misutilizing his time, money, and potential success; he is revelling in what is known as Opportunity Cost (OC). It is costing him the above as he is not searching for the right opportunities.
2. Summary for Paragraph 4
It is important to remember that there are many applicants who would apply for the same job that you are. And chances are that most of them would be equipped with the same skills. Therefore, instead of focusing only on the essential skills that the job requires, we must also give importance to other skills that we possess which would give us that boost over others. For example, a person applying for a web designing job would be proficient in Java and C++, but so would everyone else. But perhaps her proficiency in Spanish or film-making skills should be honed so that it is a comparative advantage over others, and she can apply to jobs that require such add-ons as well.
3. Summary for Paragraph 5
A job seeker must analyze his skills and abilities and see what parts he should do by himself or others, and what parts of job should he compromise on or hold on to. At the end, compartive judgement should be used to weigh the costs and benefits and decisions should be made based on these.
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