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When the existing human resource is further developed by becoming more educated and healthy, it is called ____.

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Detailed Solution

When the existing human resource is further developed by becoming more educated and healthy, it is called Human Capital Formation.
If we invest in people via medical care, education, and training, we can convert them into productive assets. An educated and healthy population is an asset to the economy, while an uneducated and unhealthy population is a liability. People should be knowledgeable and healthy enough to ensure efficient use of resources. Our vital natural resources include land, water, forests, minerals, and people. Land and money alone are insufficient to be helpful. Human resources have power over these other resources and can utilise them better.

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When the existing human resource is further developed by becoming more educated and healthy, it is called ____.