Question

Define human capital formation

Answer 1

Human capital formation is the process of transforming the people in a country into workers who are capable of producing goods and services. During this process, relatively unskilled individuals are given the tools they need to contribute to the economy.

Answer 2

Answer:

Explanation:

$\textsc{Human capital formation is the process of transforming the people in a}$$\textsc {country into workers who are capable of producing goods and services. }$$\textsc{During this process, relatively unskilled individuals are given the tools they }$$\textsc{need to contribute to the economy. It is critical to the long-term economic }$$\textsc{growth of a country, and provides the same benefits as new technologies }$$\textsc{or more efficient industrial equipment. While this process takes time, it }$$\textsc{often results in a greater standard of living for the people within a country }$$\textsc{in just a few generations, or even sooner. This process can be achieved }$$\textsc{through the use of public health policies, education or training opportunities.}$