Role of education for human capital formation
Answers
Answer:
The role of education in human capital formation are as follows:
1. An educated society facilities better development than an illiterate one.
2. Education provides new aspirations and imports a modern outlook to children.
3. Education makes people concerned for themselves and others, improve productivity and prosperity , and enriches life experience.
4. It is not only contributes towards the growth of an individual but also helps in the development of the society as a whole.
5. Along with increasing the efficiency of the Government , education also increases the national income along with other cultural richness.
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Education is an important input for the growth of individual. It plays a major role in human capital formation. It helps a person to realise his potential and the ability to do a work. Educated people came through higher incomes. Society also gains in indirect ways because the advantages of more educated population spread to those who themselves are not directly educated.
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