Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Human Capital Formation in India

Question:
Human capital considers education and health as critical factors that increase labor productivity, whereas human development considers that they are necessary for human well - being.
Which of the following options is true in regards to the above statement?
Options:
The statement is true
The statement is false
The statement is partially true
The statement is partially false
Correct Answer:
The statement is true
Explanation:
Human capital refers to skilled and abled persons that take part in the productive process. Human development, however, is a broad term that refers to overall human well-being.