Choose whether the statement is true/false:

The role of education in human capital formation cannot be overstated.

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Detailed Solution

The above statement is true.
The role of education in human capital formation cannot be overstated.
Human capital is a measure of a nation's workforce's skills, level of education, and personal traits that influence their productivity and earning potential. Gross human capital is a measure of an economy's human capital. National educational standards quantify it. It is impossible to overestimate the importance of education in developing human capital. Education is the best way to improve and expand a nation's labour capability. Education has always been necessary for the expansion and advancement of human society. Education and the betterment of humanity are closely intertwined.

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