Which of the following is a term given to the development of "Human resource"?
Answer & explanation
Correct answer: option 3
When the existing 'human resource' is further developed by becoming more educated and healthier, we call it 'human capital formation' that adds to the productive power of the country just like 'physical capital formation'. When a child after getting educated becomes a doctor, teacher etc. We say there is formation of human capital in the country.