Knowledge, Development and Quantities of Public and Private Schools in Modern Society

This paper demonstrates that rationality of an economic agent is closely related to the expertise and related knowledge, and personal attainment is generally positively related with education. We believe that social development levels are based on the corresponding knowledge and education levels. We analyzed the different functions of private and public education, the price formation of public education, student’s academic achievement, and the quantity of public and private schools. We demonstrated the importance of education market and university ranking in the development of education, and analyzed the proportion of people engaged in education in a modern economy.