6. standard of living
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GN.AEC,Gr.11Economics Page7
Education may make the labour force more mobile. Increase inmobility of labour reduces structural unemployment and the wagedifferentials between occupations.
Investment in health education may make labour force morehealthy and hence increase productivity.
Investment in education enables developing countries to deal withskill shortages and become less dependent on imported labour
force. Investment in education will enable firms to obtain skilled workers.
This will make it easier for them to expand and modernize.