Updated: Aug 20, 2021

The ability to perform certain tasks satisfactorily. Skills may involve physical dexterity, mental ability, or both. They can be learned either through formal instruction or through the apprenticeship system, working under the supervision of somebody who akeady has them. Individuals appear to differ in their ability to acquire skills. Workers with desirable scarce skills can generally obtain better paid and more secure jobs than those without them.

Reference: Oxford Press Dictonary of Economics, 5th edt.

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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.