Consider the following statements: 1. Human capital formation as a concept is better explained in terms of a process which enables individuals of a country to accumulate more capital. 2. Human capital formation involves increasing the knowledge, skill levels, and capacities of the people of the country. 3. Human capital formation is related to the accumulation of tangible wealth. 4. Human capital formation is related to the accumulation of intangible wealth. Which of the statements given above is/are correct?
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