What is meant by human capital formation?the quality of population in

1.	What is meant by human capital formation?the quality of population in a country?
Answer» ANSWER: Meier defines Human Capital Formation as “human capital formation is the process of acquiring and increasing the number of persons who have education and experience which is essential for the economic and political development of a country”. The quality of population depends upon the literacy RATE, health of a person indicated by life expectancy and skill formation acquired by the people of the country. The quality of the population ULTIMATELY DECIDES the growth rate of the country. ILLITERATE and unhealthy population are a liability for the economy.

What is meant by human capital formation?the quality of population in a country?

Answer»

Meier defines Human Capital Formation as “human capital formation is the process of acquiring and increasing the number of persons who have education and experience which is essential for the economic and political development of a country”.

The quality of population depends upon the literacy RATE, health of a person indicated by life expectancy and skill formation acquired by the people of the country. The quality of the population ULTIMATELY DECIDES the growth rate of the country. ILLITERATE and unhealthy population are a liability for the economy.

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