Nick, a skilled welder, had been working for 12 years in a factory that recently closed. This has caused high unemployment in his town and region. If Nick is concerned about maximizing his human capital and lifetime wealth accumulation, which action would be most beneficial?

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Business

Halle

27 July, 17:42

Nick, a skilled welder, had been working for 12 years in a factory that recently closed. This has caused high unemployment in his town and region. If Nick is concerned about maximizing his human capital and lifetime wealth accumulation, which action would be most beneficial?

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Answers (1)

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Eden Donaldson · Answer 1

move to a place where his welding skills will be valued and in demand in the marketplace

Explanation:

If Nick wants to maximize his human capital (Labour) and his wealth accumulation (income) and since he got unemployed since their is high unemployment in his town and region, he needs to move or relocate somewhere else where he can get a job to maximize his Labour and earn an income