A skilled craftsperson often makes more than an apprentice because of:
A)discrimination.
B)differences in human capital.
C)efficiency wages.
D)differences in physical capital.

Question

Quizplus · Accepted Answer

Differences in human capital refer to differences in skills, knowledge, and experience that individuals acquire through education, training, and on-the-job experience. An apprentice is typically less experienced and skilled than a craftsperson, which is why the latter often earns more. Discrimination and physical capital are not relevant factors in this scenario, and while efficiency wages may play a role in some situations, they are not the primary reason for the wage differential between apprentices and craftspersons.

A Skilled Craftsperson Often Makes More Than an Apprentice Because