“Human Capital Formation gives birth to innovation, invention and technological improvements. Do you agree with the given statement? Support your answer with valid arguments.

Question – “Human Capital Formation gives birth to innovation, invention and technological improvements. Do you agree with the given statement? Support your answer with valid arguments.

Answer –

Human capital formation helps in innovation and creates ability to absorb new technology and skills.

• Education helps in providing knowledge to understand technological changes, adapt and accept the changes which facilitates innovation and invention in the economy.
• The availability of skills and educated labour force facilitates adoption to new technology.

Related Questions

• Briefly discuss the meaning of human capital
• How does expenditure on information act as a source of human capital formation
• “Human Capital Formation gives birth to innovation, invention and technological improvements. Do you agree with the given statement? Support your answer with valid arguments.
• Discuss the concept of physical capital
• “Higher productivity and production is the result of investment in human resources.” Do you agree with this statement?
• How does education contribute to economic growth
• What is meant by human capital formation? State its various sources.
• Why government expenditure on tertiary education is important
• How does human capital create both private and social benefits
• How does expenditure on migration act as a source of human capital formation
• Explain how does investment in human capital contribute to growth of an economy
• Discuss the need for on-the-job training for a employees