Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Human Capital Formation in India

Question:
Which among the following is incorrect regarding the positive aspect of human capital formation?
Options:
Improves technical knowledge
Increases productivity
Changes the social outlook
Increases the cost of production
Correct Answer:
Increases the cost of production
Explanation:
An increase in total output produced by the company leads to economic development. Human capital formation produces able and efficient people who use their knowledge, skills, and production.