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Human capital formation:
(i) Is the development of a country's human resources through education and health.
(ii) Provides higher productivity and income due to better training and health.
(iii) Involves only the investment in physical capital like machinery and infrastructure.
(iv) Contributes to the growth of the economy by adding to the productive power of the country.
  • a)
    (i) and (ii)
  • b)
    (iii) and (iv)
  • c)
    (i), (ii) and (iv)
  • d)
    (i) and (iv)
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Human capital formation:(i) Is the development of a country's human re...
  • Human capital formation refers to the process of improving the skills, education, and health of the population which in turn increases productivity and income (statements (i) and (ii)).
  • This development is analogous to physical capital formation but is focused on the human resource aspect.
  • Investment in human capital contributes significantly to the economy's productive capacity, thereby fostering economic growth (statement (iv)).
  • Statement (iii) is incorrect as it refers to physical capital and not human capital. Therefore, the correct statements are (i), (ii), and (iv).
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Community Answer
Human capital formation:(i) Is the development of a country's human re...
Human Capital Formation
Human capital formation refers to the development of a country's human resources through education and health. It is crucial for the overall growth and development of a nation. Let's break down the key points:

Importance of Human Capital Formation:
- Higher Productivity: Investing in education and health leads to better training and health of individuals, which ultimately results in higher productivity levels.
- Increased Income: A well-educated and healthy workforce tends to earn higher incomes due to their skills and capabilities.
- Contribution to Economic Growth: Human capital formation contributes to the growth of the economy by adding to the productive power of the country. Skilled and healthy individuals are better equipped to contribute to the overall development of the nation.

Comparison with Physical Capital:
- Unlike the investment in physical capital like machinery and infrastructure, human capital formation focuses on the development of human resources.
- While physical capital is essential for economic growth, human capital plays a crucial role in enhancing productivity and overall well-being.
In conclusion, human capital formation is a vital aspect of a country's development as it not only enhances productivity and income levels but also contributes significantly to the growth of the economy. It is important for policymakers to prioritize investments in education and health to ensure the long-term prosperity of the nation.
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Human capital formation:(i) Is the development of a country's human resources through education and health.(ii) Provides higher productivity and income due to better training and health.(iii) Involves only the investment in physical capital like machinery and infrastructure.(iv) Contributes to the growth of the economy by adding to the productive power of the country.a)(i) and (ii)b)(iii) and (iv)c)(i), (ii) and (iv)d)(i) and (iv)Correct answer is option 'C'. Can you explain this answer?
Question Description
Human capital formation:(i) Is the development of a country's human resources through education and health.(ii) Provides higher productivity and income due to better training and health.(iii) Involves only the investment in physical capital like machinery and infrastructure.(iv) Contributes to the growth of the economy by adding to the productive power of the country.a)(i) and (ii)b)(iii) and (iv)c)(i), (ii) and (iv)d)(i) and (iv)Correct answer is option 'C'. Can you explain this answer? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about Human capital formation:(i) Is the development of a country's human resources through education and health.(ii) Provides higher productivity and income due to better training and health.(iii) Involves only the investment in physical capital like machinery and infrastructure.(iv) Contributes to the growth of the economy by adding to the productive power of the country.a)(i) and (ii)b)(iii) and (iv)c)(i), (ii) and (iv)d)(i) and (iv)Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Human capital formation:(i) Is the development of a country's human resources through education and health.(ii) Provides higher productivity and income due to better training and health.(iii) Involves only the investment in physical capital like machinery and infrastructure.(iv) Contributes to the growth of the economy by adding to the productive power of the country.a)(i) and (ii)b)(iii) and (iv)c)(i), (ii) and (iv)d)(i) and (iv)Correct answer is option 'C'. Can you explain this answer?.
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