Is India going to be knowledge based economy in the near future?

Identify similarities and dissimilarities between physical capital and human capital.

Keeping in view the present scenario, what should be the objectives of education in India?

Bring out the differences between human capital and human development.

"Over time, human capital has replaced physical capital as the most scarce resource and the main economic factor". What is the value of human capital in economic development?

Why is it essential for the government to regulate the fee structure in educational institutions?

Read the passage given below and answer the following questions from 1 to 4.
People spend to acquire information relating to the labour market and other markets like education and health. This information is necessary to make decisions w.r.t investment in human capital and its efficient utilisation. Thus, expenditure incurred for acquiring information relating to the labour market and other markets is also a source of human capital formation.

1. Which of the following is the source of human capital formation in India?

1. Health
2. Migration
3. Acquiring information
4. All of these

2. Education provides:

1. Private benefit
2. Social benefit
3. Both (a) and (b)
4. None of these

3. persons contribute more to the growth of an economy.

1. Ducated
2. Healthy
3. Both (a) and (b)
4. None of these

4. Training given by a company to its employees is generally__________?

1. Investment
2. Social wastage
3. Both (a) and (b)
4. None of these

Read the passage given below and answer the following questions from 1 to 4.Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.

1. Human Capital Formation came into existence in:

1. 1950
2. 1960
3. 1970
4. 1980

2. Economists say that the main key player of economic development is:

1. Human capital
2. Physical Capital
3. Real Capital
4. None of these

3. In _ Five year Plan, India emphasized on human capital formation.

1. 2nd
2. 3rd
3. 5th
4. 7th

4. ________ means an improvement in the quality of life and living standards, e.g., measures of literacy, life expectancy, and health care.

1. Economic growth
2. Economic development
3. Investment
4. None of these

What are the differences between education and literacy?

Read the passage given below and answer the following questions from 1 to 4. New Delhi: Prime Minister Narendra Modi on saturday launched the Aushman Bharat Scheme via video conferencing to extend health insurance coverage to all residents of Jammu and Kashmir. The Prime Minister’s offie said the scheme will ensure universal health coverage, and focus on providing financial risk protection and ensuring quality and affordable essential health services to all individuals and communities. Union Home Minister Amit Shah and the Union Territory’s Lieutenant Governor, Manoj Sinha, also spoke on the occassion. The scheme will provide free of cost insurance cover to all residents of the UT of Jammu and Kashmir, the PMO said, adding that it will extend financial cover of upto ₹ 5 lakhs per family on a floater basis to all residents of the UT. There is provision for operational extension of the ‘Pradhan Mantri Jan Arogya Yojana’ (PM – Jay) to approximately 15 lakh additional families, the PMO statement said, adding that the scheme will operate on insurance mode in convergence with PM-Jay. The benefits of the scheme will be portable across the country. The hospitals empanelled under the PM-Jay scheme provide services under this scheme as well, the PMO said.

1. What does the Ayushman Bharat Scheme provide?

1. Better health care facility
2. Cheaper health care facility
3. Health Insurance
4. All of the above

2. What is the main benefit of the scheme?

1. Bring a lot of people in the purview of health care.
2. Make health care affordable for the rich in India.
3. Alleviating poverty in India
4. Improving the education in India

3. The financial cover under the scheme is of _ per family?

1. ₹ 5 lakh
2. ₹ 15 lakh
3. ₹ 10 lakh
4. ₹ 20 lakh

4. __________ is the other name of the scheme.

1. PM – Jay
2. PM – JAI
3. PM – AJAY
4. None of the above