Question

Define human capital formation explain any four benefits of investment in human capital​

Answer 1

Answer:

Human capital formation refers to the acquisition of the necessary knowledge, skills and capabilities required to produce economic value.It is of critical importance for the growth of an economy. ... 4)For example, education and proper medical facilities are highly important in the process of human capital formation.

Answer 2

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Explanation:

Human capital formation refers to the acquisition of the necessary knowledge, skills and capabilities required to produce economic value.It is of critical importance for the growth of an economy.

Benefits of investment in human capital are as follows:-

1)The labour or the people working in any organization are the human resource.

2)This human resource has infinite capabilities and capacities for some beneficial engagement.

3)The means required to convert the human resource to productive units in an economy is human capital formation.

4)For example, education and proper medical facilities are highly important in the process of human capital formation.

                                                    (OR)

When the human resource get itself further developed i.e. by making itself more educated and healthy, it is called human capital formation.

Benefits of human capital are -

• Human capital is the main power of the industrial sectors of a nation and that's why investment in the human capital increases the efficiency of the industrial sectors.

• Human capital investments help in the establishment of the new jobs and that's why the problem of unemployment gets a solution.

• Human capital investment also ensures the presence of the skillful persons in their own country. Lack of human capital investments in proper places can become a cause of foreign migration of the skillful persons for better opportunities.

• Human capital investments also ensures the proper development of the nation in many different aspects where human resources are involved.

• The human capital investments also ensures the proper development of the national economy.