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Bring Out the Need for On-the-job-training for a Person. - Economics

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प्रश्न

Bring out the need for on-the-job-training for a person.

संक्षेप में उत्तर
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उत्तर

Training refers to the act of acquiring skills, knowledge and competency required to perform a particular job efficiently and effectively. On-the-job training is the most effective kind of training to a trainee, imparting him the technical skills and know-how at the actual work site. In this type of training, a trainee is assisted (or hands on) and trained by a trainer (usually by an experienced employee), when the trainee is actually doing the job. This helps the trainee not only to acquire the theoretical and practical skills simultaneously but also enables him to learn from the experiences of his trainer, thereby, can increase his efficiency and productivity. This is the most common type of training programs because the returns in terms of increased productivity far exceed the cost of the training. Thus, the expenditures on such training improve the quality of human capital by enhancing its productivity, efficiency and income earning capacity.

The need for on the job training has been highlighted in the following points:

i. On-the-job training is the most common method to train freshers or new employees.

ii. This type of training helps the trainee to acquire the theoretical and practical skills simultaneously.

iii. It enables the person to absorb values, norms and standards of an organisation within the organisation because the employee sees them in everyday action.

iv. As it is done under the supervision of a skilled or experienced worker, the trainee can learn from the experiences of the supervisor.

v. It is a cost efficient method as the benefits accruing in terms of higher productivity outweigh the expenditure incurred on such training.

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अध्याय 5: Human Capital Formation in India - Exercise [पृष्ठ ९७]

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एनसीईआरटी Economics - Indian Economic Development [English] Class 12
अध्याय 5 Human Capital Formation in India
Exercise | Q 15 | पृष्ठ ९७

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.


How does investment in human capital contribute to growth?


Trace the relationship between human capital and economic growth.


The objective of midday meal scheme is ______.


Physical capital is inseparable from its owner.


Which of the following is not the role of on-the-job training?


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?


Which of the following is an example of curative medicine?


Which of the following statements are correct

Statement 1: Migration is the shifting of a person from one place to another with the intention of settling, permanently or temporarily in a new location.

Statement 2: The movement is often over long distances and from one country to another.

Statement. 3: When people migrate from one country to another country it is known as external migration.


What are the major sources of human capital in a country? 


What is the need for on-the-job training for a person?


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.


State with valid reason whether the following statement is true or false:

“Higher productivity and production are the outcome of investment in human resources.” 


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