Question

Without human capital formation there is no use of physical capital" Justify this statement with the real life examples.​

Answer 1

Answer:

People who are part of the workforce are called human resource. By contributing in productivity, the human resource plays a significant role in the economy of a country. Any other resource becomes useful only because of the input by the human resource.

Explanation:

Answer 2

Without human capital formation there is no use of physical capital

Explanation:

• Human capital refers to the population of a nation available for development. In several ways, human resources are distinct from other resources. Human resources require to be developed through "training, education , & healthcare". Land & physical resources require money  & physical input. Without "human resources", land & physical capital are ineffective.
• When investments are made in "education", "training" & "healthcare", human resources become human capital. We name it the 'human capital formation,' as the "current human resource" is increased by being more informed & healthy. The "productive capacity" of the nation is increased by human resources..

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