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Consider the following statements.
1. Human capital treats human beings as a means to an end
2. As per Human Capital Perspective, Any investment in education and health is unproductive if it does not enhance output of goods and services
Which of the statements is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)None of them
Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements.1. Human capital treats human being...
- What is the Difference Between the approach of Development of Human Capital and Human Development? Human capital considers education and health as a means to increase labour productivity.
- Human development is based on the idea that education and health are integral to human well-being because only when people have the ability to read and write and the ability to lead a long and healthy life, they will be able to make other choices which they value.
- Human capital treats human beings as a means to an end; the end being the increase in productivity. In this view, any investment in education and health is unproductive if it does not enhance output of goods and services.
- In the human development perspective, human beings are ends in themselves. Human welfare should be increased through investments in education and health even if such investments do not result in higher labour productivity.
- Therefore, basic education and basic health are important in themselves, irrespective of their contribution to labour productivity.
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Consider the following statements.1. Human capital treats human being...
Human capital and its perspective
Human capital refers to the knowledge, skills, abilities, and experiences possessed by individuals that contribute to their productivity and the overall economic growth of a country. It is an important concept in economics and is often viewed from different perspectives. One such perspective is the Human Capital Perspective.
Statement 1: Human capital treats human beings as a means to an end
The first statement suggests that human capital treats human beings as a means to an end. This implies that individuals are seen solely in terms of their economic value and productivity. Human capital theory emphasizes the importance of investing in education, training, and health to enhance the productivity of individuals and improve economic outcomes. It focuses on the economic benefits that individuals can bring to society and how their skills and knowledge can be utilized to generate economic growth.
Statement 2: Investment in education and health must enhance output of goods and services
The second statement reflects the perspective of the Human Capital Theory. According to this perspective, any investment in education and health is considered unproductive if it does not lead to an enhancement in the output of goods and services. The primary goal of investing in education and health, from this perspective, is to increase the productivity and efficiency of individuals in the workforce. It argues that education and health investments should be evaluated based on their contribution to economic growth and the generation of tangible outputs.
Summary
Both statements are correct. The Human Capital Perspective views individuals as a means to achieve economic ends and emphasizes the importance of investing in education and health to enhance their productivity. It considers any investment in education and health as unproductive if it does not result in an increase in the output of goods and services.
In conclusion, the Human Capital Perspective prioritizes economic outcomes and views individuals as valuable assets that can contribute to economic growth. However, it is important to note that this perspective has been subject to criticism for its narrow focus on economic considerations and its failure to account for the broader social and human aspects of individuals.
Human capital refers to the knowledge, skills, abilities, and experiences possessed by individuals that contribute to their productivity and the overall economic growth of a country. It is an important concept in economics and is often viewed from different perspectives. One such perspective is the Human Capital Perspective.
Statement 1: Human capital treats human beings as a means to an end
The first statement suggests that human capital treats human beings as a means to an end. This implies that individuals are seen solely in terms of their economic value and productivity. Human capital theory emphasizes the importance of investing in education, training, and health to enhance the productivity of individuals and improve economic outcomes. It focuses on the economic benefits that individuals can bring to society and how their skills and knowledge can be utilized to generate economic growth.
Statement 2: Investment in education and health must enhance output of goods and services
The second statement reflects the perspective of the Human Capital Theory. According to this perspective, any investment in education and health is considered unproductive if it does not lead to an enhancement in the output of goods and services. The primary goal of investing in education and health, from this perspective, is to increase the productivity and efficiency of individuals in the workforce. It argues that education and health investments should be evaluated based on their contribution to economic growth and the generation of tangible outputs.
Summary
Both statements are correct. The Human Capital Perspective views individuals as a means to achieve economic ends and emphasizes the importance of investing in education and health to enhance their productivity. It considers any investment in education and health as unproductive if it does not result in an increase in the output of goods and services.
In conclusion, the Human Capital Perspective prioritizes economic outcomes and views individuals as valuable assets that can contribute to economic growth. However, it is important to note that this perspective has been subject to criticism for its narrow focus on economic considerations and its failure to account for the broader social and human aspects of individuals.
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Consider the following statements.1. Human capital treats human beings as a means to an end2. As per Human Capital Perspective, Any investment in education and health is unproductive if it does not enhance output of goods and servicesWhich of the statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'C'. Can you explain this answer?
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Consider the following statements.1. Human capital treats human beings as a means to an end2. As per Human Capital Perspective, Any investment in education and health is unproductive if it does not enhance output of goods and servicesWhich of the statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements.1. Human capital treats human beings as a means to an end2. As per Human Capital Perspective, Any investment in education and health is unproductive if it does not enhance output of goods and servicesWhich of the statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements.1. Human capital treats human beings as a means to an end2. As per Human Capital Perspective, Any investment in education and health is unproductive if it does not enhance output of goods and servicesWhich of the statements is/are correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'C'. Can you explain this answer?.
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