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: -Human capital allows an economy to grow. When human capital increases in areas such as science, education, and management, it leads to increases in innovation, social well-being, equality, increased productivity, improved rates of participation, all of which contribute to economic growth.

Detailed explanation-3: -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-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.