Question

how are tailors an asset to the economy​

Answer 1

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A doctor, teacher, engineer or a tailor is a asset to the economy because they form the skilled workforce of the economy. Their services are productive and beneficial without which an economy cannot grow. For example, without doctors health of the people cannot improve.

Answer 2

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(i) A population becomes human capital when there is investment made in the form of education training and medical care.

(ii) Human capital is the stock of skills and productive knowledge embodied in them.

(iii) Investment made in the form of education and training in making a doctor, a teacher an engineer and a tailor, has increased their capabilities of providing different services to the people of the country and therefore they are an asset to the economy of a nation.