What is the role of health in human capital formation
Answers
Explanation:
Health plays an important role in human capital formation for the following reasons (i) Only a healthy person can perform to his full potential. ... (iii) A healthy person can contribute to the growth and development of the economy by doing productive work. (iv) An unhealthy person becomes a liability for an organization.
Answer:
Human capital refers to the stock of skill and productive knowledge and body in a population. Proper education and training enable the formation of the human capital. An educated population is an asset, a resource. In contrast to the an uneducated and untrained, educated individuals make efficient use of available resources and opportunities. Education and skill are the major determinants of the earning of any individual in the market. Education enhances the quality and quantity of individual productivity, which in turn adds to the growth of the economy. Aware of the benefits of education, educated persons help in its perpetuation. The advantages of an educated population spread to even those who themselves are not educated. Hence, educated people benefit the society as a whole. Thus education plays the role of catalyst in transforming a human being into a positive acid and a precious natural resource.