PFL Lesson 1.1 Review

What is the value of staying in school?

Higher levels of education tend to mean higher levels of income and increase in knowledge and skill for future careers or jobs.

Identify three jobs and three careers. What do they have in common? How do they differ?

Jobs - waitress, bartender and cook Careers - teacher, doctor, and lawyer The difference between a job and a career is that a job is usually part or full time. Careers usually involve a degree of some sort, weather it be college or tech school. Careers are also more likely to be long term in the end compared to jobs.

Explain different ways for people to build their human capital.

People can build their human capital by education and investment in one's self by volunteering or part-time jobs.

Discuss the cost and benefits of choosing a career instead of a job.

The cost of choosing a career instead of a job is give up short term money/investments and you could be in debt because of college or training. The benefits of choosing a career are; retirement, insurance, and higher pay.