Discuss the following from an economic perspective and give numerical examples:
Government sponsored job training program is no different from any other form of resource transfer since resources have been taken from higher valued uses to a lower valued use.
This is true because the resources that are allocated towards the job training programs are taken from potential higher valued uses (the money spent on the training programs) and used for lower valued uses (the potential benefit to society once the individual is trained). However, the potential benefit to society is less than the benefit that could have been had if the money had been used elsewhere.
For example, ...