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Consider the following statements.
1. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.
2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.
Which of the statements is/are not correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)None of them
Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements.1. Physical capital is tangible and...
- Physical and Human Capital: Both the forms of capital formation are outcomes of conscious investment decisions. Decisions regarding investment in physical capital are taken on the basis of one’s knowledge in this regard.
- The entrepreneur possesses knowledge to calculate the expected rates of return to a range of investments and then rationally decides which one of the investments should be made. The ownership of physical capital is the outcome of the conscious decision of the owner — the physical capital formation is mainly an economic and technical process.
- A substantial part of the human capital formation takes place in one’s life when she/he is unable to decide whether it would maximise her/his earnings. Children are given different types of school education and health care facilities by their parents and the society.
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Consider the following statements.1. Physical capital is tangible and...
Physical capital refers to the tangible assets that are used in the production process, such as machinery, equipment, buildings, and infrastructure. On the other hand, human capital refers to the knowledge, skills, and abilities of individuals that contribute to their productivity and earning potential.
Statement 1: Physical capital is tangible and can be easily sold in the market like any other commodity while human capital is intangible and human capital is not sold in the market.
This statement is correct. Physical capital can be bought and sold in the market as it is a tangible asset. It can be easily valued, transferred, and used as a commodity. On the other hand, human capital is intangible and cannot be sold in the market. While individuals can provide their skills and knowledge in exchange for wages or salaries, human capital itself cannot be traded as a commodity.
Statement 2: Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.
This statement is incorrect. Physical capital formation can indeed be built through imports. Countries can import machinery, equipment, and other physical capital goods to enhance their production capabilities. This can be done through trade and investment policies that promote the inflow of physical capital from other countries.
Similarly, human capital formation is not solely dependent on conscious policy formulations. While policies and investments in education, training, and skill development can promote the formation of human capital, individuals can also invest in their own education and skills without the need for explicit policy interventions. People can pursue higher education, acquire new skills, and engage in lifelong learning to enhance their human capital.
Overall, both statements are correct, and the correct answer is option D, none of them. Physical capital can be sold in the market, while human capital cannot be traded as a commodity. Additionally, physical capital formation can be built through imports, and human capital formation is not solely dependent on policy formulations.
Statement 1: Physical capital is tangible and can be easily sold in the market like any other commodity while human capital is intangible and human capital is not sold in the market.
This statement is correct. Physical capital can be bought and sold in the market as it is a tangible asset. It can be easily valued, transferred, and used as a commodity. On the other hand, human capital is intangible and cannot be sold in the market. While individuals can provide their skills and knowledge in exchange for wages or salaries, human capital itself cannot be traded as a commodity.
Statement 2: Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.
This statement is incorrect. Physical capital formation can indeed be built through imports. Countries can import machinery, equipment, and other physical capital goods to enhance their production capabilities. This can be done through trade and investment policies that promote the inflow of physical capital from other countries.
Similarly, human capital formation is not solely dependent on conscious policy formulations. While policies and investments in education, training, and skill development can promote the formation of human capital, individuals can also invest in their own education and skills without the need for explicit policy interventions. People can pursue higher education, acquire new skills, and engage in lifelong learning to enhance their human capital.
Overall, both statements are correct, and the correct answer is option D, none of them. Physical capital can be sold in the market, while human capital cannot be traded as a commodity. Additionally, physical capital formation can be built through imports, and human capital formation is not solely dependent on policy formulations.
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Consider the following statements.1. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. Can you explain this answer?
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Consider the following statements.1. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. 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. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. 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. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. Can you explain this answer?.
Consider the following statements.1. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. 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. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. 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. Physical capital is tangible and can be easily sold in the market like any other commodity while Human capital is intangible and Human capital is not sold in the market.2. Physical capital formation can be built even through imports whereas human capital formation is to be done through conscious policy formulations.Which of the statements is/are not correct?a) 1 Onlyb) 2 Onlyc) Both 1 and 2d) None of themCorrect answer is option 'D'. Can you explain this answer?.
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