Answer:
(i)
Land, labour, physical capital and human capital are very important for the
growth and development of the society and the economy.
(ii) In the absence of any of these resources we cannot hope to have much
progress, so they are very important.
(iii) However, human capital is the most important capital
because all other types of capital can be utilised only by humans; if humans do
not develop and process other capital or resources and make them usable, they
would remain underdeveloped and unutilised because on their own they are
useless and no use to anybody.
If we develop human capital, all others will automatically
develop and lead to progress.
You need to login to perform this action.
You will be redirected in
3 sec
