Economics World Bank Questions
The role of education in economic development is crucial. Education plays a significant role in enhancing human capital, which is essential for economic growth and development. It equips individuals with the necessary knowledge, skills, and abilities to participate effectively in the labor market and contribute to the overall productivity of the economy. Education also promotes innovation, technological advancements, and the adoption of new ideas, which are vital for economic progress. Additionally, education helps reduce poverty and inequality by providing individuals with better employment opportunities and higher incomes. Overall, education is a key driver of economic development as it fosters human capital development, promotes productivity, and contributes to sustainable economic growth.