Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Human Capital Formation in India

Question:

Which of these statements are true about Human Capital?

Options:

Human capital means competent people who have themselves been educated and trained as professors and other professionals.

Society needs good human capital to produce other human capital.

It is about turning human resources like nurses, farmers, teachers, students into human capital like engineers and doctors.

All of the above

Correct Answer:

All of the above

Explanation:

Society needs sufficient human capital in the first place —in the form of competent people who have themselves been educated and trained as professors and other professionals. In other words, we need good human capital to produce other human capital (say, nurses, farmers, teachers, doctors, engineers...). This means that we need investment in human capital to produce more human capital out of human resources.