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All questions of Human Capital Formation in India for Commerce Exam

To provide the educational facilities to the children of transferable central government employees _____ were established
  • a)
    Kendriya Vidyalayas
  • b)
    Navodaya Vidayalas
  • c)
    Both
  • d)
    None
Correct answer is option 'A'. Can you explain this answer?

Rahul Desai answered
The Kendriya Vidyalayas were established in 1963 with the sole purpose of offering quality education to the children of transferable central government employees, including those in the defence and paramilitary services.
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A person becomes a human resource when he/she
  • a)
    Is able to work
  • b)
    Is willing to work
  • c)
    Belongs to particular age group
  • d)
    All of the these
Correct answer is option 'D'. Can you explain this answer?

Poonam Reddy answered
Human resources are used to describe the people who work. They are resource to an organization or a business or is providing some kind of work or service by working, which will provide that business output and make effective and efficient.
A person only becomes human resource when he/she is willing to work, Is able to work and Belongs to particular age group.

According to India Vision report 2020, _____ percent literate India is paramount importance to realise the vision for the country in 2020
  • a)
    100
  • b)
    75
  • c)
    60
  • d)
    80
Correct answer is option 'A'. Can you explain this answer?

Shilpa Chavan answered
Importance of Literacy in India Vision 2020

The India Vision report 2020 stresses the importance of literacy in realizing the vision for the country. Here are some reasons why literacy is of paramount importance:

1. Economic Development: Literacy is an essential tool for economic development. It helps people acquire skills and knowledge that are necessary for better employment opportunities, higher wages, and improved standards of living.

2. Social Empowerment: Literacy empowers individuals and communities by providing access to information, increasing awareness, and promoting critical thinking. It helps people make informed decisions, participate in civic life, and exercise their rights.

3. National Development: Literacy is crucial for national development as it enables citizens to contribute to the country's progress by participating in economic, social, and political activities.

4. Human Development: Literacy is a key component of human development as it promotes personal growth, self-awareness, and self-esteem. It enables individuals to live fulfilling lives and pursue their aspirations.

Conclusion

In conclusion, the India Vision report 2020 rightly emphasizes the importance of literacy in realizing the country's vision. A 100 percent literate India is essential for economic, social, and national development, as well as for human development. Therefore, efforts must be made to ensure universal access to education and promote lifelong learning.

NCERT was established in
  • a)
    1983
  • b)
    1961
  • c)
    1980
  • d)
    1982
Correct answer is option 'B'. Can you explain this answer?

Muskaan Mehta answered
NCERT Establishment

The National Council of Educational Research and Training (NCERT) was established in 1961 by the Government of India. It is an autonomous organization that aims to contribute to the development of the education system in India.

Objective of NCERT

The main objective of NCERT is to promote the quality of school education in India by providing guidance and support to the state and national level educational organizations. It also develops and publishes textbooks, educational kits, and other educational materials for teachers and students.

Functions of NCERT

NCERT is responsible for several functions related to school education in India, which include:

1. Developing and publishing textbooks for school students.
2. Developing and implementing educational policies and programs.
3. Conducting research in education and related fields.
4. Providing training and support to teachers and educators.
5. Developing and promoting innovative educational practices.
6. Providing guidance and support to state and national level educational organizations.

NCERT and UPSC

NCERT textbooks are highly recommended for UPSC preparation, especially for subjects like history, geography, economics, and polity. The textbooks are designed to provide a comprehensive understanding of the subject and help students develop analytical and problem-solving skills.

In conclusion, the National Council of Educational Research and Training (NCERT) was established in 1961 by the Government of India with the objective of promoting the quality of school education in India. It is responsible for several functions related to school education and is highly recommended for UPSC preparation.

Role of human capital formation in economic growth
  • a)
    Improves quality of life
  • b)
    Raises life expectancy
  • c)
    Innovative skills
  • d)
    All of these
Correct answer is option 'D'. Can you explain this answer?

Tejas Verma answered
Human capital refers to the knowledge, skill sets, and experience that workers have in an economy. The skills provide economic value since a knowledgeable workforce can lead to increased productivity. Economic growth is an increase in an economy's ability, compared to past periods, to produce goods and services.
Human capital is positively correlated to economic growth since investment tends to boost productivity. The process of educating a workforce is a type of investment.

By 2005 , 1% of the world population in the age group 15-49 has been affected by
  • a)
    Cough
  • b)
    HIV/AID
  • c)
    Cholera
  • d)
    none of these
Correct answer is option 'B'. Can you explain this answer?

Asha Kumar answered
HIV/AIDS is a viral disease that attacks the immune system, and it is primarily transmitted through unprotected sexual intercourse, sharing of needles or syringes, and from mother to child during pregnancy, childbirth, or breastfeeding.
According to the Joint United Nations Programme on HIV/AIDS (UNAIDS), by 2005, approximately 1% of the world's population in the age group of 15-49 had been affected by HIV/AIDS. This translates to around 38.6 million people who were living with HIV/AIDS at that time.

Therefore, (b) HIV/AIDS is the correct answer, and it is a significant global health concern that continues to impact millions of people worldwide.

Following are the educationally backward states except
  • a)
     Bihar
  • b)
    Rajasthan
  • c)
    U.P
  • d)
    Mizoram
Correct answer is option 'D'. Can you explain this answer?

Ishita Sarkar answered
Educationally Backward States

The educationally backward states in India are those states that have a lower literacy rate and a higher dropout rate compared to the national average. These states face a lot of challenges in providing quality education to their people. The educationally backward states except Mizoram are:

a) Bihar: Bihar is one of the most educationally backward states in India with a literacy rate of only 63.82%. The state faces a lot of challenges in providing quality education to its people, including poverty, lack of infrastructure, and low teacher-student ratios.

b) Rajasthan: Rajasthan is another educationally backward state in India with a literacy rate of only 67.06%. The state has a high dropout rate, especially among girls, due to socio-economic factors, lack of infrastructure, and poor quality of education.

c) U.P: Uttar Pradesh is one of the largest states in India with a population of over 200 million people. The state has a literacy rate of only 69.72%, which is lower than the national average. The state faces a lot of challenges in providing quality education to its people due to poverty, lack of infrastructure, and low teacher-student ratios.

d) Mizoram: Mizoram is not an educationally backward state in India. It has a literacy rate of 91.58%, which is higher than the national average. The state has made significant progress in improving its education system and has a good infrastructure for providing quality education to its people.

Conclusion

In conclusion, India faces a lot of challenges in providing quality education to its people, especially in the educationally backward states. These states need more attention and investment to improve their education system and provide equal opportunities to their people.

It controls and guides higher education
  • a)
    UGC
  • b)
    NCERT
  • c)
    IGNOU
  • d)
    None
Correct answer is option 'A'. Can you explain this answer?

Kritika Roy answered
Introduction:
Higher education is an essential part of the education system. It plays a crucial role in shaping the future of individuals and nations. The quality of higher education is crucial in determining the competence and employability of graduates. Therefore, it is essential to have a regulatory body that can control and guide higher education in the country.

Body:
The regulatory body that controls and guides higher education in India is the University Grants Commission (UGC). It was established in 1956 under the University Grants Commission Act, 1956. The UGC is a statutory body that operates under the aegis of the Ministry of Education, Government of India.

Functions of UGC:
The UGC performs several functions to promote and regulate higher education in India. Some of the key functions of the UGC are as follows:


  • It formulates and implements policies for the development of higher education in the country.

  • It provides financial assistance to universities and colleges for the improvement of facilities, research, and academic programs.

  • It evaluates the performance of universities and colleges and accredits them based on their quality and standards.

  • It maintains the standards of higher education by prescribing minimum qualifications for teachers and other academic staff.

  • It promotes the use of innovative teaching methods and technologies to enhance the quality of education.

  • It promotes international cooperation in the field of education and encourages the exchange of students and faculty members.

  • It provides scholarships and fellowships to students and researchers to promote research in various fields.



Conclusion:
In conclusion, the University Grants Commission (UGC) is the regulatory body that controls and guides higher education in India. It performs several functions to promote and regulate higher education in the country. The UGC plays a crucial role in maintaining the quality of higher education and promoting the development of the education system in India.

Physical capital refers to
  • a)
    Process of acquiring and increasing the number of persons who have skill
  • b)
    Stock/shares of the companies
  • c)
    Stock of produced means of production
  • d)
    All of these
Correct answer is option 'C'. Can you explain this answer?

Anushka Patel answered
Explanation:

Physical capital refers to the stock of produced means of production. It is a factor of production and is used to produce goods and services. Physical capital includes machinery, buildings, tools, equipment, and infrastructure. It is also known as "capital stock" or "fixed capital."

Physical capital is important for economic development as it provides the necessary infrastructure for businesses to operate and produce goods and services. It also increases productivity by allowing workers to use better tools and equipment. This, in turn, leads to higher output and higher profits.

Examples of Physical Capital:

- Buildings: factories, warehouses, offices, etc.
- Machinery: production equipment, assembly lines, robots, etc.
- Tools: cutting tools, hand tools, power tools, etc.
- Vehicles: trucks, cars, forklifts, etc.
- Infrastructure: roads, bridges, power plants, water treatment plants, etc.

Importance of Physical Capital:

- Increases productivity: physical capital helps to increase productivity by providing better tools and equipment to workers.
- Enhances efficiency: it helps to reduce waste and improve efficiency by automating processes and reducing manual labor.
- Reduces costs: physical capital can lower costs by reducing labor costs, improving energy efficiency, and reducing waste.
- Promotes economic growth: physical capital is essential for economic growth as it provides the necessary infrastructure for businesses to operate and produce goods and services.
- Improves the quality of life: physical capital helps to improve the quality of life by providing essential services such as clean water, electricity, and transportation.

Therefore, physical capital is an important factor of production that plays a crucial role in economic development and growth.

Which of the following statements is not a merit of human capital formation?
  • a)
    Human capital formation plays an important role in improving technical knowledge
  • b)
    Human capital formation helps to expand the size of businesses
  • c)
    Human capital formation is important for the purpose of changing social outlooks
  • d)
    Human capital formation leads to an increase in the overall cost of production
Correct answer is option 'D'. Can you explain this answer?

Amrita Dey answered
Explanation:

Human capital formation is important for the purpose of changing social outlooks
- Human capital formation involves investing in education, training, and skill development of individuals.
- By improving the knowledge and skills of individuals, human capital formation can lead to a change in social outlooks.
- This can result in a more informed and progressive society that values education and innovation.

Human capital formation helps to expand the size of businesses
- When individuals are equipped with the necessary skills and knowledge, they can contribute effectively to the growth of businesses.
- This expansion can lead to increased productivity, profitability, and overall economic development.

Human capital formation plays an important role in improving technical knowledge
- Investing in human capital development can lead to advancements in technical knowledge and expertise.
- This can result in innovation, technological progress, and competitiveness in various industries.

Human capital formation leads to an increase in the overall cost of production
- This statement is not a merit of human capital formation as it highlights a potential drawback.
- While investing in human capital can lead to higher wages and training costs, the benefits such as increased productivity and innovation often outweigh the initial costs.

____ and ____ are the twin pillars on which rests the edifice of social sector reforms
  • a)
    Education and Poverty
  • b)
    Education and Health
  • c)
    Education and Infrastructure
  • d)
    Education and Employment
Correct answer is option 'B'. Can you explain this answer?

Gargi Kaur answered
Explanation:


The twin pillars on which rests the edifice of social sector reforms are Education and Health. Here is an explanation of why these two pillars are so crucial for social sector reforms.

Education:


Education is the foundation of any society. It is the key to unlocking human potential, and it plays a vital role in the development of individuals and communities. Education is essential for economic growth, social development, and political stability. It helps people to acquire knowledge, skills, and values that are necessary for personal and collective development. Education is also a powerful tool for reducing poverty, promoting gender equality, and improving health outcomes.

Health:


Health is another critical pillar of social sector reforms. Good health is essential for human development and well-being. It enables people to lead productive lives and contribute to the economy. Health is also a fundamental human right, and governments have a responsibility to ensure that their citizens have access to quality health care. Investing in health is crucial for reducing poverty, promoting economic growth, and achieving sustainable development.

Conclusion:


Education and Health are two critical pillars of social sector reforms. Governments must invest in these two sectors to ensure that their citizens have access to quality education and healthcare. Education and health are essential for personal and collective development, economic growth, and social stability. By investing in these two sectors, governments can build a foundation for a more prosperous and equitable society.

Planning commission prepared a report regarding education over the next two decades named:
  • a)
    India education 2020
  • b)
    India World 2020
  • c)
    India Growth 2020
  • d)
    India Vision 2020
Correct answer is option 'D'. Can you explain this answer?

Anushka Sharma answered
India Vision 2020 is a report prepared by the Planning Commission of India regarding the future of education in India over the next two decades. The report was published in 2002 and aimed to provide a roadmap for the development of education in India until 2020.

Objectives:
The main objectives of the India Vision 2020 report were:

1. To provide a comprehensive plan for the development of education in India over the next two decades.

2. To identify the key challenges and opportunities facing the Indian education system and to propose solutions for addressing them.

3. To promote the use of technology in education and to encourage innovative approaches to teaching and learning.

4. To ensure that all children in India have access to quality education, regardless of their socio-economic background.

5. To improve the quality of higher education in India and to promote research and development in various fields.

Key recommendations:
The India Vision 2020 report made several key recommendations for the development of education in India. Some of the key recommendations are:

1. Universal access to education: The report recommended that all children in India should have access to quality education, regardless of their socio-economic background.

2. Emphasis on technology: The report emphasized the need to use technology in education and to encourage innovative approaches to teaching and learning.

3. Quality improvement: The report recommended several measures for improving the quality of education in India, such as teacher training programs, curriculum development, and assessment reforms.

4. Promoting research and development: The report recommended that the government should promote research and development in various fields and encourage collaborations between academia and industry.

Conclusion:
In conclusion, India Vision 2020 was a comprehensive report that aimed to provide a roadmap for the development of education in India until 2020. The report made several key recommendations for improving the quality of education in India and ensuring that all children have access to quality education. While some progress has been made in the last two decades, there is still a long way to go to achieve the goals set out in the report.

People of which age group are treated as productive labour force
  • a)
    15-35
  • b)
    0-6
  • c)
    15-60
  • d)
    60-70
Correct answer is option 'C'. Can you explain this answer?

Age Group of Productive Labour Force

The productive labour force refers to the group of people who are capable of working and contributing to the economy. In general, the age group that is considered to be the most productive labour force is between 15 and 60 years of age. Let us understand the reasons behind this.

Physical and Mental Ability

The age group between 15 and 60 years is considered to be the most productive because people within this age group are physically and mentally capable of performing various tasks. They have the strength and energy to carry out physical work, and they also have the cognitive abilities to perform mental tasks. This makes them an important part of the workforce.

Education and Training

Most people within this age group have completed their education and received some training or vocational education. This makes them skilled and qualified for various jobs. They can work in different sectors and contribute to the economy.

Experience

People within this age group have also gained some experience in their chosen field of work. This experience helps them to perform their tasks efficiently and effectively. They can also take up leadership roles and guide their juniors, which is essential for the growth of any organization.

Conclusion

In conclusion, the age group between 15 and 60 years is considered to be the most productive labour force. They are physically and mentally capable of performing various tasks, have received education and training, and have gained some experience in their chosen field of work. They are an important part of the workforce and contribute to the growth of the economy.

Human capital can be increased by incurring expenditure on
  • a)
    Increase in GDP
  • b)
    Improvement of health
  • c)
    Improvement in technology
  • d)
    All of these
Correct answer is option 'B'. Can you explain this answer?

Divya Soni answered
Human capital include human beings. And healthy human can work properly. So Improved of health is only concept in all these that is realeted with human capital.

What is the primary objective of the University Grants Commission (UGC) in India?
  • a)
    To regulate migration across borders.
  • b)
    To ensure standards in higher education.
  • c)
    To promote physical capital investment.
  • d)
    To provide vocational training for adults.
Correct answer is option 'B'. Can you explain this answer?

The University Grants Commission (UGC) is responsible for coordinating, determining, and maintaining standards of higher education in India. It plays a crucial role in ensuring the quality and recognition of universities, as well as the disbursement of funds to recognized educational institutions.

Literate refers to
  • a)
    All urban people
  • b)
    The ability to read and write
  • c)
    All educated people
  • d)
    none of these
Correct answer is option 'B'. Can you explain this answer?

Rohini Desai answered
Literate refers to the ability to read and write. Here is a detailed explanation:
Definition of Literate
- Literate refers to the ability to read and write.
- It is the basic skill of being able to understand written language and communicate effectively through writing.
Literacy Levels
- Literacy levels can vary among individuals, ranging from basic reading and writing skills to advanced levels of comprehension and fluency.
- Being literate allows individuals to access information, engage in critical thinking, and participate fully in society.
Importance of Literacy
- Literacy is crucial for personal development, education, and career advancement.
- It empowers individuals to make informed decisions, solve problems, and communicate effectively.
- Literacy also plays a key role in promoting economic growth and reducing poverty.
Literacy Rates
- Literacy rates vary globally and can be influenced by factors such as access to education, socio-economic conditions, and cultural norms.
- Efforts are made by governments, organizations, and individuals to improve literacy rates through initiatives such as educational programs, literacy campaigns, and the promotion of lifelong learning.
Conclusion
- Literacy is the foundation of education and plays a vital role in personal and societal development.
- Being literate allows individuals to navigate the world, acquire knowledge, and engage in meaningful communication.

ICMR regulate the
  • a)
    Banking sector
  • b)
    Education sector
  • c)
    Tourism Sector
  • d)
    Health Sector
Correct answer is option 'D'. Can you explain this answer?

Anu Kulkarni answered
ICMR, which stands for Indian Council of Medical Research, is a government organization that regulates the health sector in India. It was established in 1911 and is headquartered in New Delhi. ICMR is responsible for promoting and coordinating research in various fields related to medicine and healthcare. It also has various divisions and centres that focus on specific areas such as nutrition, epidemiology, and biotechnology.

Role and Functions of ICMR:

ICMR plays a crucial role in the health sector in India. Some of its functions are listed below:

1. Conducting Research: ICMR conducts research on various aspects of medicine and health, including epidemiology, nutrition, and infectious diseases. It also funds research projects in various fields related to health.

2. Developing Guidelines: ICMR develops guidelines and protocols related to various diseases and health issues. These guidelines are used by healthcare professionals and policymakers to develop strategies to prevent and manage diseases.

3. Capacity Building: ICMR provides training and capacity building programs for healthcare professionals and researchers. It also promotes the development of research infrastructure in the country.

4. Public Health Programs: ICMR implements various public health programs such as the National AIDS Control Program, National Vector Borne Disease Control Program, and National Cancer Control Program.

5. Collaboration: ICMR collaborates with various national and international organizations to promote research and development in the health sector. It also works with other government agencies to develop policies related to health.

Conclusion:

In conclusion, ICMR is an important regulatory body in the health sector in India. Its functions and activities are crucial in promoting and coordinating research and development in the health sector. Through its various programs and initiatives, ICMR plays a vital role in improving the health and well-being of the people of India.

Stocks/shares of the companies are
  • a)
    Human Capital
  • b)
    Financial Capital
  • c)
    Physical Capital
  • d)
    None
Correct answer is option 'B'. Can you explain this answer?

Ameya Basu answered
Explanation: Stocks/shares of companies are financial capital.

Financial capital refers to the funds that a company raises from investors to finance its business operations. Stocks and shares are ownership stakes in a company, and they represent a portion of the financial capital that the company has raised.

Under financial capital, companies issue stocks/shares to the public to raise funds. These shares represent ownership in the company and entitle shareholders to a portion of the profits that the company generates. Shareholders also have the right to vote on important company decisions, such as the election of board members and major business transactions.

Companies use the funds raised through issuing stocks/shares to finance various business operations, such as research and development, marketing, and expansion. In exchange for providing financial capital, investors in the company hope to earn a return on their investment either through dividends or capital appreciation.

In summary, stocks/shares of companies represent financial capital as they are ownership stakes in a company and represent a portion of the funds that the company has raised from investors.

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