12 Questions
What is Human Capital Formation?
The process of adding to the stock of skill and expertise over time
Which of the following is NOT a source of Human Capital Formation as mentioned in the text?
Expenditure on Agriculture
How does Human Capital Formation contribute to economic growth?
By increasing productivity of physical capital through skilled workers
Which aspect does NOT describe Human Capital?
Stock of produced means of production
What is a major benefit of Human Capital Formation mentioned in the text?
Facilitating higher innovation and growth
Which factor does NOT contribute to Human Capital Formation according to the text?
Expenditure on Financial Capital
What is the main difference between human capital and human development?
Human capital is a means to an end, while human development is an end itself.
What does 'Human Capital Formation' aim to achieve?
Increasing the stock of skilled and educated individuals for a country's development.
How does G.M. Meier define human capital formation?
The process of adding to the stock of human capital over time.
What is included in 'Physical Capital'?
Inputs required for further production such as machinery and tools.
What age group does the Right to Education (RTE) Act in India promise education to?
6-14 years
How does human capital differ from physical capital?
Physical capital focuses on infrastructure, while human capital focuses on workforce skills.
Test your knowledge about human capital formation, physical capital, and financial capital. Learn about the stock of skills, produced means of production, and financial claims against assets.
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