who is education help in economics development? explain

Asked by kranjeet7495 | 29th Jun, 2022, 08:02: PM

Expert Answer:

Education plays a significant role in economic development in the following ways:

  1. Education increases the accessibility of people to modern and scientific ideas.
  2. It increases the efficiency and ability of people to absorb new technology.
  3. It creates awareness of the available opportunities and mobility of labour.
  4. Education helps individuals to gain knowledge, skills and attitude which would enable them to understand changes in society and scientific advancements.
  5. Investment in education is one of the main sources of human capital which facilitates inventions and innovations.
  6. Available educated labour force facilitates adaptation of advanced technology in a country.

Answered by Social Science Expert | 30th Jun, 2022, 08:16: AM