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The costs of passing a bill that prohibits child labor is precisely that all the labor that children could have provided for the economy is forgone. So in pure economic terms, there is a loss of value, a sunk cost.
However, the benefit is both economic, and social. The economic benefit is that children will instead go to school, and educate themselves to become more productive workers in the future. And the social benefit is a fairer society, and wealthier too.
Answer:
Private interest owns the factors of production in a market economy. In a market economy, the means of production are privatized to individuals (can you help me with my questions plz)
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♡ madeline here ♡
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people like us create, learn, share, and get used to culture. In schools, this theme typically appears in units and courses dealing with geography, historical events and developments. The students will explore the impacting of peoples, places, and environments on personal development. ☆
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