Question

What is the relation between human capital formation and economic growth?

Answer 1

Human capital formation and economic growth are closely related in the following ways:

1. It helps in the economic development of a country by expanding the knowledge and skills of its citizens.
2. It improves the standard of living of the people which is achieved due to the opportunities in employment, improvement in health and education.

Also read:

• Difference Between Human Capital and Human Development
• Sources and Problems of Human Capital Formation

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