Question

In: Accounting

Private businesses have a great interest in quality primary and secondary education because today’s students are...

Private businesses have a great interest in quality primary and secondary education because today’s students are tomorrow’s employees. However, private businesses make limited financial contributions to this sector of education (excluding the taxes they pay to public school systems), even to market-oriented programs like vouchers and charter schools.

(1) What do you suppose explains this low contribution level?

(2) The limited contribution from the private sector may not be the only reason for governmental provision of primary and secondary education; what are the other reasons?

(3) The federal government plays a limited role in this area while the local (and increasingly the state) governments are the primary funders of these services. What are the justifications for this division of responsibilities?

Limit your answers to no more than one single-spaced page

Expert Solution

1. Private businesses make less contribution to education sector because professional courses such as engineering, dentistry, medicine, pharmacy, etc were the limited professional fields for a long time and was not developed much. These fields have recently gained atention.

It was before liberalisation that certain businesses were not in scope of some countries and thats why private sector was not willing to invest in bringing education for these sectors.

In recent times, most of the businesses have come under domestic reach and private sector is willing to invest in training students and providing education to create skilled workforce for their business.

2. Reasons for Government provision for primary and secondary education :

* To impart a minimum literacy level for for a stable and democratic society

* An educated mind is more productive and there are more chances of less crimes being held.

* To bring gender equality in the society

* To improve nation's productivity.

* Increase in living standards.

* Eucation adds to economic value of student.

* In many countries, health and life insurance are mandatory but where they are not, only educated mind can understand various insurance policies.

* To create future leaders.

* Many startups are coming into businesses and only eductaion can help them be successful.

* To increase employment levels.

* To develop overall position of the nation and its citizens.

3.

Education sector is regulated by three different government entities - federal, local and state government. Federal Government contributes little. Local and state governments contributes a lot and involves in day to day activities. State government sets policies which the schools in the state have to follow. They ensure that schools are imparting quality education to students. They also help in setting syllabus and change or update it according to time and needs. They set requirements for primary, secondary and higher education.

Central government is involved more in macroeconomic factors. Central government has decentralised its duties to state government to ensure smooth economy. The states are responsible for managing internal economy and central government manages various economic and political factors. Central government looks for matters related to financial stability, defense, Trade and commerce, Import and Export, regulation forming, protection of rights given to citizens.

ekkarill92 answered 1 year ago

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