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Human Capital Formation:(i) Involves investment in education, training, and medical care.
(ii) Is synonymous with physical capital formation.
(iii) Contributes to the productive power of a country.
(iv) Yields higher incomes due to increased productivity.
  • a)
    (i) and (ii)
  • b)
    (iii) and (iv)
  • c)
    (i), (iii), and (iv)
  • d)
    (i) and (iv)
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Human Capital Formation:(i) Involves investment in education, training...
  • Human Capital Formation involves investment in education, training, and medical care
  • This investment contributes significantly to the productive power of a country
  • As a result, higher incomes are earned because of the increased productivity of more educated, better-trained, and healthier individuals
  • However, it is not synonymous with physical capital formation, which involves investment in physical assets like machinery and buildings
  • Thus, statements (i), (iii), and (iv) are correct
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Most Upvoted Answer
Human Capital Formation:(i) Involves investment in education, training...
Human Capital Formation:
Human capital formation refers to the process of investing in human resources through education, training, and healthcare to enhance their productive abilities. It plays a vital role in the economic development of a country by increasing the skills, knowledge, and health of its workforce.

Key Points:
- Investment in Education, Training, and Medical Care: Human capital formation involves investing in education to improve knowledge and skills, training to enhance capabilities, and medical care to ensure a healthy workforce.
- Contribution to Productive Power: Human capital formation contributes to the overall productive power of a country by increasing the efficiency and effectiveness of its workforce.
- Higher Incomes and Increased Productivity: As a result of human capital formation, individuals become more productive, leading to higher incomes due to increased efficiency and output.
Therefore, the correct answer is option C, as human capital formation encompasses investment in education, training, and medical care (i), contributes to the productive power of a country (iii), and yields higher incomes due to increased productivity (iv).
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Human Capital Formation:(i) Involves investment in education, training, and medical care.(ii) Is synonymous with physical capital formation.(iii) Contributes to the productive power of a country.(iv) Yields higher incomes due to increased productivity.a)(i) and (ii)b)(iii) and (iv)c)(i), (iii), and (iv)d)(i) and (iv)Correct answer is option 'C'. Can you explain this answer?
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Human Capital Formation:(i) Involves investment in education, training, and medical care.(ii) Is synonymous with physical capital formation.(iii) Contributes to the productive power of a country.(iv) Yields higher incomes due to increased productivity.a)(i) and (ii)b)(iii) and (iv)c)(i), (iii), 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) Involves investment in education, training, and medical care.(ii) Is synonymous with physical capital formation.(iii) Contributes to the productive power of a country.(iv) Yields higher incomes due to increased productivity.a)(i) and (ii)b)(iii) and (iv)c)(i), (iii), 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) Involves investment in education, training, and medical care.(ii) Is synonymous with physical capital formation.(iii) Contributes to the productive power of a country.(iv) Yields higher incomes due to increased productivity.a)(i) and (ii)b)(iii) and (iv)c)(i), (iii), and (iv)d)(i) and (iv)Correct answer is option 'C'. Can you explain this answer?.
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