Question

1) Why are people of a country referred to as resource?

2) What is the role education in human capital formation?​

Answer 1

Answer:

People as Resource' is a way of referring to a country's working people in terms of their existing productive skills and abilities. Looking at the population from this productive aspect, emphasises its ability to contribute to the creation of the Gross National Product.

The role of education in human capital formation are as follows: An educated society facilitate better development program than an illiterate one. Education improves productivity and prosperity, and also improve enriched life experience. ... Education increases national income and other cultural richness.

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Answer 2

Explanation:

1)- People as Resource' is a way of referring to a country's working people in terms of their existing productive skills and abilities. Looking at the population from this productive aspect, emphasises its ability to contribute to the creation of the Gross National Product.

2)- Education improves productivity and prosperity, and also improve enriched life experience. It does not only contribute towards the growth of the people but also the development of society as a whole. Education increases national income and other cultural richness