Question

Suggest five ways in which human capital formation influences growth of economy

Answer 1

The human capital formation is eyeing at the conversion of human resource into human assets.

Physical Capital: For development and enhancement of physical assets such as buildings, bridges, factories etc. all the inputs like tools, machinery, gadgets which are required are called Physical Capital.

Human Capital: Skillset, educational qualifications, subject knowledge, ability and expertise in the human resource of a nation at a point in time is called Human Capital.

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