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Q 26

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Principles of Economics
Found in: Page 497

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Short Answer

Education seems to be important for human capital deepening. As people become better educated and more knowledgeable, are there limits to how much additional

benefit more education can provide? Why or why not?

Education plays a important role in capital deepening.

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Step by Step Solution

Step 1. Introduction

Education plays an important role in capital deepening by improving the productivity and prosperity and by facilitating better development program. It increases national income of economy.

Step 2. Reason

Economic Benefit

Education is an important factor a high educated person can be more productive for the society as he has gained more knowledge over time and can use his knowledge in more productive ways than a person who gained knowledge in a limited time, because in limited time a person is able to get less knowledge and earn less productivity gains.

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