Choose the given statement is True/False

Human capital is a liability for the economy.

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True

False

answer is B.

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Detailed Solution

The given statement is false.
People or human capital should not be considered a liability by any country. The high population of any country can be converted into human capital that can work for the country's economic development. Human capital refers to a country's skilled and productive workforce; by imparting proper education and providing access to medical care, as well as skilling and training the crew as and when needed, a nation's population can be changed into human capital. These people would be an asset to the economy as human capital is one of the best resources a country can have. Hence the correct statement would be, Human capital is an asset to the economy.

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