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what do you mean by vircious and vicious cycle in eco (human capital)
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what do you mean by vircious and vicious cycle in eco (human capital)
Vicious and Virtuous Cycle in Human Capital
Vicious cycle:
- Human capital refers to the skills, knowledge, and experience of an individual which contributes to their productivity and earning potential.
- A lack of investment in human capital, such as education and training, can result in a vicious cycle of poverty and low productivity.
- Individuals with low levels of human capital may struggle to find high-paying jobs, leading to a lower standard of living and a lack of resources to invest in their own development.
- This lack of investment in human capital can lead to a cycle of poverty, where individuals are unable to improve their skills and earning potential.
- This cycle can also be perpetuated by a lack of access to education and training opportunities, which can be more prevalent in low-income communities.
Virtuous cycle:
- In contrast, a virtuous cycle can occur when individuals and communities invest in human capital.
- Increased education and training can lead to higher earning potential and better job opportunities, which can lead to a higher standard of living and more resources to invest in further education and training.
- As individuals and communities invest in human capital, this can also lead to economic growth and development, as a skilled and educated workforce can attract businesses and industries.
- This can create a cycle of prosperity, where individuals and communities are able to continually improve their skills and earning potential, leading to higher levels of economic growth and development.
In summary, investing in human capital can either lead to a virtuous cycle of prosperity or a vicious cycle of poverty, depending on the level of investment and access to education and training opportunities.
Community Answer
what do you mean by vircious and vicious cycle in eco (human capital)
In virtuous cycle parents know the importance of study as they have been passed through that situation and want their children also to understand the importance of study.while in vicious cycle parents do not know the importance of study as they have not been educated so they do not want their children to study .
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what do you mean by vircious and vicious cycle in eco (human capital) for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about what do you mean by vircious and vicious cycle in eco (human capital) covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what do you mean by vircious and vicious cycle in eco (human capital).
what do you mean by vircious and vicious cycle in eco (human capital) for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about what do you mean by vircious and vicious cycle in eco (human capital) covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what do you mean by vircious and vicious cycle in eco (human capital).
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