Read the passage given below and answer the following questions from 1 to 3.
The concept of human capital has relatively more importance in labour surplus countries. The surplus-labour in these countries is the human resource available in more abundance than the tangible capital resource. The problem of scarcity of tangible capital in the labour surplus countries can be resolved by accelerating the rate of human capital formation with both private and public investment in the education and health sectors of their national economies. The statistical indicator of estimating human development in each nation is Human Development Index (HDI). It is the combination of the “Life Expectancy Index”, “Education Index” and “Income Index”. Human capital is the backbone of human development and economic development in every nation.

1. In which countries concept of human capital is more important?

1. Labour surplus countries
2. Capital surplus countries
3. Both a) and b)
4. None of these

2. Which of the following statement is correct?

1. Human capital increase labour productivity, human development helps in making better choice in future.
2. Human capital helps in making a better choice in future, human development enhances labour productivity.
3. Human capital formation in end in itself, human development is a mean to an end that is increasing in labour productivity.
4. None of these

3. Which of the following is not the part of human development index?

1. Literacy
2. Liberty
3. Health
4. Income

Do you think that the current level of education expenditure is adequate? Why?

Distinguish between Physical Capital Formation and Human Capital Formation.

Give an account of growth of education sector in India.

How does education and training lead to technological improvement?

Give any three challenges facing Indian education system.

Explain how health and expenditure on information are a source of human capital formation.

Explain how is India a knowledge economy.

Why unemployment is highest among the educated youth?

What does government expenditure on education reveal?