Human capital contributes to economic growth.At …
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Meghna Thapar 5 years ago
Human capital affects economic growth and can help to develop an economy by expanding the knowledge and skills of its people. The skills provide economic value since a knowledgeable workforce can lead to increased productivity. Capital formation increases investment which effects economic development in two ways. Firstly, it increases the per capita income and enhances the purchasing power which, in turn, creates more effective demand. Secondly, investment leads to an increase in production.
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