Question

What is the difference between human capital and human capital formation? Explain with examples.​

Answer 1

Human capitalHuman developmentiii. It treats humanbeings as a means to an end, the end being the increase in productivityiii. It is an end in themselves

Answer 2

HUMAN CAPITAL

• It considers education and health as a means to increase labour productivity .
• It is a narrow concepts which treat human beings as means to achieve and end which is higher productivity .
• Human capital treats human beings as a means to an end, the end being the increase in productivity .

HUMAN DEVELOPMENT

• It is based on the idea that education and wealth are integral to human well being because only when people have the ability to read and write and the ability to lead a long and healthy life ,they will be able to make other choices which they value .

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