Question

 

 Explain the concept of Human Capital Theory and discuss how distance education contributes to the formation of human capital.

15 Jan 2026
Answer :
Word Count : 519
Human Capital Theory explains education and training as investments that enhance the productive capacity of individuals and, in turn, contribute to economic growth. Developed mainly by economists such as Theodore Schultz and Gary Becker, the theory views human beings not merely as consumers of education but as holders of skills, knowledge, abilities, and competencies that have economic value. Just as investment in physical capital like machinery increases output, investment in education increases the efficiency, adaptability, and earning potential of individuals. Education raises productivity by improving cognitive skills, technical know-how, problem-solving ability, and work discipline, which leads to higher wages for individuals and greater output for society. From an economic
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Related Questions

 

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