Question

12. Explain the importance of human capital
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Answer 1

Human capital is an asset consisting of the knowledge and skills held by a person that can be used by an organization to advance its goals. Human capital is important because some level of human knowledge and skills is necessary in order for an organization to accomplish anything.

Answer 2

Answer:

1. Quality of life is indicated by income and health.

2. Income and health depend upon the level of education, skill formation, etc.

3. Human capital formation increases these skills and improves the quality of life of masses.

4. Better quality of population means more economic growth.

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