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प्रश्न
Benefits of physical capital accrue only to private entities, whereas human capital provides private as well as ______ benefits.
विकल्प
profitable
fiscal
social
monetary
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उत्तर
Benefits of physical capital accrue only to private entities, whereas human capital provides private as well as social benefits.
Explanation:
Physical capital, such as machinery and plant, is only useful to businesses that are involved in the production process. But human capital, or the stock of skilled, trained, educated, and experienced labours, is an asset for society and the nation as well as individuals who purchase their services.
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संबंधित प्रश्न
Discuss the following as a source of human capital formation
Health infrastructure
Discuss the following as a source of human capital formation
Expenditure on migration.
Explain how investment in education stimulates economic growth.
Bring out the need for on-the-job-training for a person.
Trace the relationship between human capital and economic growth.
______ five-year plan recognized the importance of human capital.
The objective of midday meal scheme is ______.
Preventive medicine includes medical practices that are designed to avoid or avert diseases.
Physical capital is inseparable from its owner.
Match the situations given in Column I with their respective implications given in Column II:
| Column I | Column II | ||
| A | Migration | i | Reduced in per capita economic growth |
| B | Low level of academic standards | ii | An imbalance between demand and supply of human resource |
| C | Population- High Growth rate | iii | Brain Drain |
| D | Lack of proper manpower planning | iv | The mismatch between required skill and academic standards |
Read the given case study and answer the questions
Traditional economic theory viewed capital in physical terms only. Economists during the late 1950s based on the aggregate production function found that the standard measures of simple labour and physical capital were incapable of explaining adequately the rapid post-war growth. Speculations on what was missing were diverse. Some argued that the principal explanation lays in the lack of appropriate adjustments for improvement in the quality of physical capital and the embodiment of technical progress in that capital. Others suggested that the most important omission pertains to the organisational advance or a vaguely specified human capital. The residual of unexplained growth was at first ascribed to technology by Solow, but later, the residual was defined to include improvements in the quality of capital can the investment in human beings. Human capital is formed with improvement in skills education. Improved health and education is merit as well as a public good and is associated with a large number of externalities which are often indirect, indivisible and non-quantifiable.
Which of the following gives the definition of public goods?
Read the given case study and answer the questions
Traditional economic theory viewed capital in physical terms only. Economists during the late 1950s based on the aggregate production function found that the standard measures of simple labour and physical capital were incapable of explaining adequately the rapid post-war growth. Speculations on what was missing were diverse. Some argued that the principal explanation lays in the lack of appropriate adjustments for improvement in the quality of physical capital and the embodiment of technical progress in that capital. Others suggested that the most important omission pertains to the organisational advance or a vaguely specified human capital. The residual of unexplained growth was at first ascribed to technology by Solow, but later, the residual was defined to include improvements in the quality of capital can the investment in human beings. Human capital is formed with improvement in skills education. Improved health and education is merit as well as a public good and is associated with a large number of externalities which are often indirect, indivisible and non-quantifiable.
Consider the situation of 2 countries – A and B. Country A has invested more towards the
technological progress whereas Country B has invested more towards expanding its military
network and arms. To Solow, which country would go faster?
What are the major sources of human capital in a country?
The newly emerging jobs are found mostly in the ______ sector.
Which of the following points indicates that economic growth and infrastructure development are related to each other?
Consider the following statements:
Statement 1: Resources or factors of production can be natural, human, capital, and entrepreneurial.
Statement 2: An economy must make a choice of the wants which are important for the economy.
Read the following statements carefully.
Statement 1: On-the-job trainings help to bridge a gap between theoretical concepts and practical experiences.
Statement 2: On-the-job trainings update the employees, with the latest changes in their work field.
In the light of the given statements, choose the correct alternative:
"Expenditure on On-the-job training is an important means of human capital formation in an economy."
Give valid reasons to justify the given statement.
