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Education is considered to be an important input for the development of a nation. How? - Economics

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Question

Education is considered to be an important input for the development of a nation. How?

Short Answer
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Solution

Education is considered to be an important input for the development of a country in the following ways:

  1. Education produces skilled and trained workers.
  2. It increases labour productivity.
  3. It provides knowledge to understand the changes taking place in society. It also promotes innovations.
  4. Educated people can easily participate in local development activities undertaken by the panchayats or other local authorities.
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Chapter 9: Tertiary Sector - QUESTION BANK [Page 149]

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J. P. Goel and Kaushal Goel Economics [English] Class 9 ICSE
Chapter 9 Tertiary Sector
QUESTION BANK | Q 20. | Page 149
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