What is the role of education in human capital formation
What is the role of education in human
Answer: Education plays an important role in human capital formation as listed below:
1. Education provides better knowledge and skills. A person with more knowledge and skills is generally more productive.
2. An educated population is an asset, a resource.
3. Education enhances the quantity and quality of individual productivity, which in turn adds to the growth of the economy.
4. Educated people benefit the society as a whole. Thus, education plays the role of a catalyst in transforming a human being into a positive asset and a precious national resource.
5. Education enhances the cultural richness of a country and the efficiency of governance.