In today’s society, there is a large gap between the wants and needs of underdeveloped and developed countries. Due to a country’s current economic state, it can be heavily influence their social norms and living standards. As a result, underdeveloped countries have constraints to improve their standing. On the other hand, developed countries have the economic freedom to choose any alternative to further improve their condition.
The Principle of Relevant Cost is a cost that only establish a specific management decision and which can change in the long run as a result of that decision. This principle is useful for removing unnecessary information from a specific decision-making process. In addition, by removing unnecessary costs from a decision, …show more content…
are very limited in poor countries, while in rich countries they have everything provided to them for free or in most cases they have the money to buy these things. According to a study in Kenya, some schools to receive free textbooks, which is an official Kenyan government textbook. The authors did not find any effect on their exam scores of the “typical student” although students who had strong performance to begin with did improve. The authors note that the language and content of the textbooks may have been inappropriate for the students. I believe that it is all about how well a student is willing to put into work. In rich countries, many students are given different types of books, but they do not take the advantage of these things because they may think that they can learn some other way or because they can survive without it. The differences in opportunity costs. Children are significant to labor and farming efforts in poor countries and if they are at school they cannot help with the duties that help families survive in everyday life. Furthermore, the cost of school supplies is difficult to have in poor families. The opportunity cost of a child in a rich, nonagricultural country is much lower than in agriculturally-dependent countries because they have what they need to
The Principle of Relevant Cost is a cost that only establish a specific management decision and which can change in the long run as a result of that decision. This principle is useful for removing unnecessary information from a specific decision-making process. In addition, by removing unnecessary costs from a decision, …show more content…
are very limited in poor countries, while in rich countries they have everything provided to them for free or in most cases they have the money to buy these things. According to a study in Kenya, some schools to receive free textbooks, which is an official Kenyan government textbook. The authors did not find any effect on their exam scores of the “typical student” although students who had strong performance to begin with did improve. The authors note that the language and content of the textbooks may have been inappropriate for the students. I believe that it is all about how well a student is willing to put into work. In rich countries, many students are given different types of books, but they do not take the advantage of these things because they may think that they can learn some other way or because they can survive without it. The differences in opportunity costs. Children are significant to labor and farming efforts in poor countries and if they are at school they cannot help with the duties that help families survive in everyday life. Furthermore, the cost of school supplies is difficult to have in poor families. The opportunity cost of a child in a rich, nonagricultural country is much lower than in agriculturally-dependent countries because they have what they need to