Which of the following highlights the importance of human capital formation?

It accelerates economic growth

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It ensures social change in desired directions

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Both A and B

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None of these

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Solution

The correct option is A Both A and B
Human capital formation helps in accelerating economic growth as by investing in human capital necessary skills are given to the workforce to increase productivity. Human capital helps in utilisation of physical capital and ensures social change in desired direction.
Hence, C is the correct option.

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