Question

What is the role of education in human capital formation no

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; higher human ...

Answer 2

Education helps in the vital usage of both land and capital and hence helps in the human capital formation.