8 Questions
What is human capital?
Human capital is the stock of skill and productive knowledge embodied in the population.
How is the term 'People as Resource' defined?
It refers to a country’s working people in terms of their existing productive skills and abilities.
What is the positive side of a large population, according to the text?
The positive side is that a large population can be seen as a 'human resource' that can contribute to the country's productive power.
What is 'human capital formation'?
'Human capital formation' is the further development of the existing 'human resource' through education and health, adding to the country's productive power.
How does investment in human capital yield returns?
Investment in human capital yields returns in the form of higher incomes due to the higher productivity of educated, well-trained, and healthier individuals.
What are the forms of investment that contribute to human capital?
Education, training, and medical care contribute to human capital.
How is the ability of the population to contribute to the Gross National Product emphasized?
The population's ability to contribute to the Gross National Product is emphasized by viewing them as a 'human resource' with productive skills and abilities.
What is the similarity between investment in human capital and investment in physical capital?
Both types of investment yield returns that enhance the productive power of the country.
Test your knowledge on the concept of population as human capital, including the investment in education, training, and medical care. Explore the significance of 'People as Resource' in contributing to a country’s Gross National Product.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
