Read the passage given below and answer the following questions from 1 to 4.
Human capital, intangible collective resources possessed by individuals and groups within a given population. these resources include all the knowledge, talents, skills, abilities, experience, intelligence, training, judgment, and wisdom possessed individually and collectively, the cumulative total of which represents a form of wealth available to nations and organizations to accomplish their goals. The concept of human capital stems from the economic model of human resource capitalism, which emphasizes the relationship between improved productivity or performance and the need for continuous and long-term investments in the development of human resources. Investments in human capital are viewed as affecting national and global economic performance or, more narrowly, where investments in people are viewed as crucial to organization performance. For an organization, this model suggests that high productivity and performance depend on developing learning systems that reflect the commitment of an organization to its human resources. As a result, ongoing investments in training, skill development, and job enrichment engender a reciprocal commitment among members to organizational goals and objectives.

1. The stock of skill and expertise of a nation at a point of time is called _Capital.

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

2. Which of the following is not a source of Human Capital Formation?

1. Education
2. Saving
3. Health
4. Information

3. _is based on the idea that education and health are integral to human well-being.

1. Economic Development
2. Human Development
3. Social Growth
4. None of these

3. __________ is/ are the reason for rural-urban migration in India.

1. Unemployment
2. Health facilities
3. Money
4. All of these

A skilled worker like software professional generates more income than an unskilled worker. Why?

Education is a challenging proposition for Indian economy. Discuss.

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

The Education Commission in 1966, had recommended that at least 6% of GDP should be spent on education in India. However, even after 50 years of such a recommendation, the government continues to spend 3-4% of GDP on education. How has this affected the education sector in India? What value stands violated by the Central Government?

Read the passage given below and answer the following questions from 1 to 4.
Both forms of capital formation are the outcomes of conscious investment decisions. The decision regarding investment in physical capital is taken on the basis of one’s knowledge in this regard. The entrepreneur possesses the knowledge to calculate the expected rates of return to a range of investments and then rationally decides which one of the investments should be made. The ownership of physical capital is the outcome of the conscious decision of the owner the physical capital formation is mainly an economic and technical process.
Human capital formation takes place in one’s life when she/he is unable to decide whether it would maximize her/ his earnings. Children are given different types of school education and health care facilities by their parents and society. Moreover, the human capital formation at this stage is dependent upon the already formed human capital at the school level. Human capital formation is partly a social process and partly a conscious decision of the possessor of the human capital.

1. Which of the following does not correctly differentiate between the physical and human capital?

1. Human capital is intangible whereas physical capital is tangible.
2. Human capital can cope up with the changing technology whereas physcical capital can not.
3. Human capital generates both personal and societal benefits whereas physical capital generates only personal benefit.
4. Human capital gets obsolete with time whereas physcial capital does not.

2. In the context of the paragraph, it can be argued that human capital depreciates faster than the physical capital. The given statement is:

1. True
2. False
3. Partially true
4. Can’t comment due to lack of proper estimation mechenism

3. Machines and industrial tools are examples of:

1. Physical capital
2. Human capital
3. Both physical and human capital
4. Natural capital

4. Investment in education by parents is the same as_______?

1. Investment in intermediate goods by companies
2. Investment in CSR activity by companies
3. Investment in capital goods by companies
4. None of the above

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

Read the passage given below and answer the following questions from 1 to 4.
The economic and social benefits of human capital formation and human development are well known. The union and state governments in India have been earmarking substantial financial outlays for the development of education and health sectors. The spread of education and health services across different sectors of society should be ensured so as to simultaneously attain economic growth and equity. India has a rich stock of scientific and technical manpower in the world. The need of the hour is to better it qualitatively and provide such conditions so that they are utilized in our own country.

1. For a improved health status of the country, family planning is quit essential. Which of the following is the main reason for family planning?

1. For birth control issues
2. For having unwanted pregnancies
3. For having child every year
4. To get pregnant before the age of twenty

2. What percentage of GDP is contributed towards health and educatoin sectors in India respectivley.

1. 1.8% and 4.6% respecively
2. 5.4% and 3.4% respectively
3. 7% and 7.4% respectively
4. 6% and 6.4% respectively

3. __ is not an indicator which measures the education status of the country?

1. year os schooling
2. Life expectancy
3. Teacher pupil ratio
4. Net attendance ratio

4. Health status of a country is relfected by indicators such as birth rate, death rate, infant mortality rate, maternal mortality rate, life expectancy etc. The given statement is?

1. True
2. False
3. Partially true
4. Can’t comment

"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?