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This a MCQ (Multiple Choice Question) based practice test of Chapter 5 - Human Capital Formation in India of Economics of Class XI (11) for the quick revision/preparation of School Board examinations
Q The stock of skill, ability, expertise, education and knowledge in a nation at a point of time known as
- a)Human Resource
- b)Human Capital
- c)Human Development
- d)None
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
This a MCQ (Multiple Choice Question) based practice test of Chapter 5...
Human Capital
It refers to the stock of skill, ability, expertise, education and knowledge in a nation at a point of time.
This question is part of UPSC exam. View all Commerce courses
Most Upvoted Answer
This a MCQ (Multiple Choice Question) based practice test of Chapter 5...
Human Capital Formation in India:
Human Capital:
- Human capital refers to the stock of skill, ability, expertise, education, and knowledge in a nation at a point of time.
- It is considered as an important factor for economic growth and development.
Explanation of the Answer:
- The correct answer is option 'B' - Human Capital.
- Human capital encompasses the productive capabilities of individuals, which can be enhanced through education, training, and experience.
- It plays a crucial role in the economic development of a country by increasing productivity and efficiency in various sectors.
- Investing in human capital formation through education and skill development programs is essential for improving the overall well-being and growth of a nation.
- Therefore, the stock of skill, ability, expertise, education, and knowledge in a nation at a point of time is known as human capital.
By focusing on human capital formation, countries can improve their competitiveness, innovation, and overall economic performance.
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This a MCQ (Multiple Choice Question) based practice test of Chapter 5- Human Capital Formation in India of Economics of Class XI (11) for the quick revision/preparation of School Board examinationsQ The stock of skill, ability, expertise, educationand knowledge in a nation at a point of time known asa)Human Resourceb)Human Capitalc)Human Developmentd)NoneCorrect answer is option 'B'. Can you explain this answer?
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