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What are the two types of human capital formation? Explain them briefly.


Answer by Student

The two types of human capital formation are expenditure on education and expenditure on health .

  • Expenditure on education refers to the investment made by individuals or societies to acquire knowledge and skills that enhance the productivity and employability of the workforce.
  • Expenditure on health refers to the investment made by individuals or society to improve the physical and mental well-being of the population, which also increases the efficiency and quality of work.

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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 13 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.