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Flashcards: Human Capital Formation in India 46 Flashcards 
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What is human capital and why is it important for a nation's economy? |
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Human capital is the collective stock of skills, abilities, expertise, education, and knowledge within a nation. It is important because it enables the production of qualified professionals like doctors and engineers, who contribute significantly to the economy.
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Expenditure on education, health, and training are all sources of ___ formation. |
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Human capital
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True or False: Migration only increases the population of a region. |
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False. Migration can increase or decrease the population depending on whether people are moving into or out of a region.
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Fill in the blank: On-the-job training allows employees to learn a job by ___ it in real-time. |
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Performing |
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What is the purpose of induction training for newly recruited employees? |
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Induction training helps new employees become familiar with the organization and adjust to their tasks and responsibilities.
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Riddle: I’m a method where you learn while doing, with tasks that feel like play. What am I? |
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On-the-job training
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Which method assigns an experienced manager to guide new employees? |
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Coaching  |
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True or False: Off-the-job training occurs while employees are actively engaged in their regular work tasks. |
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False. Off-the-job training occurs outside of regular work tasks. |
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List two sources of human capital formation. |
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Expenditure on education and on-the-job training.  |
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What is the primary responsibility of the University Grants Commission (UGC) in India? |
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The UGC is responsible for coordinating, determining, and maintaining standards of higher education in India. |
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Fill in the blank: Human capital formation is the process of adding to the stock of ___ over a period of time. |
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Human capital |
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True or False: The UGC was established in 1953 under the Ministry of Finance. |
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False. The UGC was established under the Ministry of Human Resource Development. |
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What differentiates physical capital from human capital? |
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Physical capital refers to tangible assets used in production, while human capital refers to the skills and knowledge of individuals. |
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Riddle: I can be built up over time and improve productivity, but I am not a machine. What am I? |
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Human capital |
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Fill in the blank: The head office of the UGC is located in ___. |
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New Delhi |
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What is the role of the UGC in relation to universities and colleges in India? |
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The UGC provides recognition to universities and colleges and disburses funds to them.  |
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What is the primary role of human capital formation in economic growth? |
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It increases production levels and improves the overall quality of life. |
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Human development emphasizes that education and health are ___ and ___ for individuals. |
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Fundamental human rights |
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True or False: High levels of poverty contribute positively to human capital formation. |
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False. High levels of poverty hinder human capital formation. |
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What are the main problems facing human capital formation? |
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Population growth, gender and regional inequality, brain drain, inadequate manpower planning, lack of on-the-job training, high poverty levels, and low academic standards. |
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Fill in the blank: Education promotes ___ and ___ among citizens. |
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Cultural standards and awareness  |
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Riddle: I am essential for responsible citizenship, resource utilization, and broadening horizons. What am I? |
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Education |
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What is one objective of the All India Council for Technical Education (AICTE)? |
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To ensure proper planning and development of the technical education system in India. |
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 Completed! Keep practicing to master all of them. |
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