Write down human capital formation

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Write down human capital formation

Posted by Priyanshu Nagar 6 years, 11 months ago

CBSE > Class 09 > Social Science

1 answers

Yogita Ingle 6 years, 11 months ago

Human capital formation is the process of transforming the people in a country into workers who are capable of producing goods and services. During this process, relatively unskilled individuals are given the tools they need to contribute to the economy. It is critical to the long-term economic growth of a country, and provides the same benefits as new technologies or more efficient industrial equipment. While this process takes time, it often results in a greater standard of living for the people within a country in just a few generations, or even sooner. This process can be achieved through the use of public health policies, education or training opportunities.

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CBSE > Class 09 > Social Science