Which of the two factors plays an important role in human capital formation?

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Education

Health

Both 1 and 2

None of above

answer is C.

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Detailed Solution

The two factors that play an important role in human capital formation are education and health.
The role of education and health in human capital formation is that an educated and healthy society facilitates better development than an illiterate one. Education and good health improve productivity and prosperity and enrich life experiences. Education and good health increase the efficiency of the government, as it increases national income and cultural richness. Educated people can lead a higher standard of living and attain a social reputation along with new opportunities. It enhances the aspirations and values for life. It helps an individual to have access to better opportunities.

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