Question

People migrate from one place to another in search of better employment opportunities and higher salaries despite incurring which set of costs?

Options

• Transport costs, living costs, and psychic costs

• Depreciation costs, ageing costs, and tradability costs

• Dividend costs, interest costs, and trade rule costs

• Vaccination costs, medical intervention costs, and sanitation costs

Answer 1

Migration involves three kinds of costs: transport costs (the expense of moving), living costs (expenses in the new location), and psychic costs (the pain of leaving family and familiar surroundings). Migrants accept these because higher salaries justify the investment.