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

Examine the role of education in the economic development of a nation.OR
'Education plays a significant role in economic development'. Discuss.

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?

Explain any four problems of human capital formation in India.OR
What are the main problems of human capital formation in India?OR
Indian Government has been taking steps for human capital formation, yet human capital formation is facing problems. Explain such problems of human capital formation.

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

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

Is the formation of human capital linked to man's all round development or, as it is now called human development?

Bring out the differences between human capital and human development.