Choose whether the statement is true/false:

Investment in education, healthcare, on the job training, migration, etc. are the factors which contribute to human capital formation.

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Detailed Solution

The above statement is true.
Investment in education, healthcare, on the job training, migration, etc. are the factors which contribute to human capital formation.
Human capital formation is influenced by various factors, including investments in education, healthcare, on-the-job training, and migration. A nation's development is thought to benefit significantly from schooling. It is a known fact that educated individuals make more money than ignorant manual labourers. Education spending aids in developing qualified and trained labour. Similarly, investing in one's health helps create productive human resources in good health. Improved human resource productivity contributes to the country's economic expansion.

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