Question
Social Capital.
Answer :
Word Count : 267
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Social capital refers to the networks, norms, and social trust that facilitate coordination and cooperation for mutual benefit within a society. It is a key concept in development economics, as it highlights the importance of social relationships and institutions in promoting economic development. Unlike physical or human capital, which are tangible or skill-based, social capital is intangible and rooted in the quality of interactions among individuals, communities, and organizations. Social capital operates through various mechanisms. First, it reduces transaction costs in economic activities by fostering
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