Question
Why is formal or informal education significant in the context of a knowledge economy?
Answer :
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Education, whether formal or informal, is highly significant in the context of a knowledge economy because knowledge, skills, information, creativity and innovation have become major sources of economic and social development. Unlike traditional economies that depend mainly on physical resources and manual labour, a knowledge economy depends on the ability of people to acquire, create, apply and share knowledge. From the perspective of Women and Society, education is particularly important because it can improve women’s capabilities, economic participation, autonomy and position within families and communities. Formal education provides women with structured knowledge and recognized qualifications through schools, colleges, universities and professional institutions. Literacy and higher education improve women’s ability to access information, use technology and participate in skilled employment. Education also develops critical thinking, communication,
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