Human capital formation is very important for a developing economy even if it envolves alot of investment. Do u agree with this? Explain your answer
Dear student,
Human capital refers to the the stock of knowledge, skills, expertise and abilities of the labour force who are involved in producing goods and services. Human capital has the following role to play in the development of a developing country even though it involves heavy investment in education, health .
a. Human capital contributes in the overall productivity of the country, it ensures regularity in work and would enhance production.
b. It serves as an asset to the country and would contribute to its growth story.
c. A healthier population that forms part of human capital helps in improving their standard of living of the population and that of the country.
d. The human capital contributes to further development, inventions, advancements in the country as it will constitute an active and useful workforce.
e. Investing in human in the form of better education and training will develop a more skilled and innovative workforce who can contribute in the growth of the economy .
f. Human capital will be more politically and socially aware,vigilant and will contribute towards being an active citizenry
Human capital refers to the the stock of knowledge, skills, expertise and abilities of the labour force who are involved in producing goods and services. Human capital has the following role to play in the development of a developing country even though it involves heavy investment in education, health .
a. Human capital contributes in the overall productivity of the country, it ensures regularity in work and would enhance production.
b. It serves as an asset to the country and would contribute to its growth story.
c. A healthier population that forms part of human capital helps in improving their standard of living of the population and that of the country.
d. The human capital contributes to further development, inventions, advancements in the country as it will constitute an active and useful workforce.
e. Investing in human in the form of better education and training will develop a more skilled and innovative workforce who can contribute in the growth of the economy .
f. Human capital will be more politically and socially aware,vigilant and will contribute towards being an active citizenry