Question

What is the role of education in human capital formation

Answer 1

According to standard economics, human capital plays an important role in the economic process; on the one hand,human capital is as important as machines and technology in the production process; on the other hand, higher human capital implies higher labor productivity and higher incomes for workers; higherhuman ...

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Answer 2

Education makes people concerned for themselves and improve productivity and prosperity.
It not only contribute to the growth of individual but also helps in the development of society as a whole.
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