ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Education improves productivity and prosperity, and also improve enriched life experience. It does not only contribute towards the growth of the people but also the development of society as a whole. Education increases national income and other cultural richness.

Detailed explanation-2: -Investing in people through nutrition, health care, quality education, jobs and skills helps develop human capital, and this is key to ending extreme poverty and creating more inclusive societies.

Detailed explanation-3: -November 2020) Human capital is a concept used by social scientists to designate personal attributes considered useful in the production process. It encompasses employee knowledge, skills, know-how, good health, and education. Human capital has a substantial impact on individual earnings.

Detailed explanation-4: -Human capital can be broadly defined as the stock of knowledge, skills and other personal characteristics embodied in people that helps them to be productive.