What is the role of education in human capital formation?
NCERT Class 9th Economics Social Studies Ch 2 People as Resource
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Education has a vital role to play in human capital formation or in human resource development. It helps an individual to make better use of economic opportunities available before him. Education and skill are the major determinants of the earning of an individual in the market. Apart from these education has many other benefits such as, -
It helps a man to make all around development and opens the avenue of prosperity.
It uplifts his abilities as a skilled worker and enables him to earn better.
It helps a man to make all around development and opens the avenue of prosperity.
It uplifts his abilities as a skilled worker and enables him to earn better.
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FOLLOWING ARE THE MAIN ROLE OF EDUCATION IN HUMAN CAPITAL FORMATION :
1) Education gives fruits in term of good job and salary .
2) Education is one of the main factors of economic and social development .
3) Education increase the efficiency of the workers .
4) Education helps in the development of science and technology .
5) Education helps increasing the mental horizon of the people .
6) Education enhances the national income , Cultural richness and increase the efficiency of governance .
7) Education encourages economic development through greater participation of the people in the affairs of the country .
1) Education gives fruits in term of good job and salary .
2) Education is one of the main factors of economic and social development .
3) Education increase the efficiency of the workers .
4) Education helps in the development of science and technology .
5) Education helps increasing the mental horizon of the people .
6) Education enhances the national income , Cultural richness and increase the efficiency of governance .
7) Education encourages economic development through greater participation of the people in the affairs of the country .
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