Question

What is the role of education in human capital formation?

Answer 1

The role of education in human capital formation are as follows:

1. An educated society facilitate better development program than an illiterate one.
2. Education improves productivity and prosperity, and also improve standard of living.
   
3. It does not only contribute towards the growth of the people but also the development of society as a whole.
4. Education increases income and other cultural richness of human capital.