Megha kumari, Academic content writer of Economics at Edumarz
HUMAN CAPITAL is attained by education, health, migration, on-job-training and information. These all factors contribute to economic growth of a country. As it is seen that a educated and healthly person can contribute to economic growth of a country.
Human capital contribute to economic growth by following ways:-
- Innovation: By the knowledge acquire through the education help in creating new technology. These new technology will help in economic growth of a country.
- Per capita income: By using different sources of human capital human can increase their salary. This increase in salary will increase per capita income which contribute to economic growth.
- Social changes: An educated person can make social changes in the economy. This social changes contribute to economic growth of a country.
Literacy rate: By giving basic education to every individual will increase literarcy rate. A literate person will contribute to economic growth of a country than an illiterate person.