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Role of human capital formation in economic growth
  • a)
    Improves quality of life
  • b)
    Raises life expectancy
  • c)
    Innovative skills
  • d)
    All of these
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Role of human capital formation in economic growtha)Improves quality o...
Human capital refers to the knowledge, skill sets, and experience that workers have in an economy. The skills provide economic value since a knowledgeable workforce can lead to increased productivity. Economic growth is an increase in an economy's ability, compared to past periods, to produce goods and services.
Human capital is positively correlated to economic growth since investment tends to boost productivity. The process of educating a workforce is a type of investment.
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Role of human capital formation in economic growtha)Improves quality o...
Human capital refers to the knowledge, skill sets, and experience that workers have in an economy. The skills provide economic value since a knowledgeable workforce can lead to increased productivity. Economic growth is an increase in an economy's ability, compared to past periods, to produce goods and services.
Human capital is positively correlated to economic growth since investment tends to boost productivity. The process of educating a workforce is a type of investment.
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Role of human capital formation in economic growtha)Improves quality o...
Human capital formation: Human capital formation i
s the act of increasing the 
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