Final answer:
Young workers tend to change occupations more frequently than experienced workers due to higher opportunity costs as they explore different career paths and try out different jobs. Experienced workers have lower opportunity costs as they are more settled in their careers and have acquired specialized skills.
Step-by-step explanation:
Young workers tend to change occupations more frequently than experienced workers because of the concept of opportunity cost. Opportunity cost refers to the value of the next best alternative that is given up when making a choice. In this case, young workers have higher opportunity costs as they explore different career paths and try out different jobs. They have limited experience and are still learning about their own preferences, skills, and interests, so they are more willing to take risks and switch jobs in search of better opportunities or a better fit.
On the other hand, experienced workers have lower opportunity costs as they are more settled in their careers. They have acquired valuable skills, knowledge, and experience that make them more specialized in their field. Switching jobs for experienced workers may require more effort and investment to adapt to a new industry or learn new skills, resulting in higher opportunity costs. Additionally, the stability, benefits, and seniority they have achieved in their current occupation can act as deterrents to changing jobs frequently.