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Differentiate between Human capital and Human capital formation.
Answer to be written
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Human Capital |
Human Capital Formation |
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1. The capabilities of labour including skills , working capacity , and intelligence are referred to as the human capital of that country. |
1. Educating and providing health facilities to the population to make them educated and healthy to work is referred to as Human capital formation . |
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2. It is not necessary that every human contributes to the economy of that country . |
2. Educated and Healthy humans contribute significantly to the economy of that country . |
