Question

Define human capital formation. How is it important for the development of the country. Class9

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

This is the ans. for first question

It is quite important in the process of economic growth of a country but with a passage of time, It is being increasingly realised that the growth of tangible capital stock formation must get its due importance ........


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Answer 2

HUMAN CAPITAL FORMATION

When the existing human resource is further developed by becoming more educated and healthy, we call it human capital formation.

IMPORTANCE

1. EDUCATION:

Education is one of the main factors of economic and social development.

Education helps in increasing the mental horizon of the people, and is a must to develop human personality.

Education helps in the development of science and technology.

Education encourages economic development through greater participation of the people in the affairs of the country.

Education increases efficiency of the workers.

It enhances the national income, cultural richness and increases the efficiency of governance.

2. HEALTH:

Health does not mean survival only. It involves not only the physical fitness of the individual but also his mental, economic and social well-being.

Good health increases the efficiency of a worker.

Good health increases the learning capacity of a worker.