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प्रश्न
"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.
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उत्तर
Yes, Expenditure on 'On the job training' is an important means of human capital formation in the economy.
Reasons:
- Updation of new skills: There are several skills that employees are inexperienced with. Employee training at work enables individuals to improve their skills. Teachers have found the usage of smart boards and mobile devices, for instance, to be extremely helpful during the time of Covid.
- Increase in productivity: The development of new skills aids in improving an employee's productivity or efficiency. They execute a task in comparably less time than before.
- Increase in expertise: Employees become experts at a task when they accomplish it consistently while utilizing new skills. Additionally, it boosts employees' self-confidence.
- Economic growth: The majority of employees gain new skills and contribute to GDP growth, therefore investing in "on the job training" is helpful for economic growth in addition to the business and the employees.
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संबंधित प्रश्न
What are the two major sources of human capital in a country?
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?
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.
Preventive medicine includes medical practices that are designed to avoid or avert diseases.
Physical capital is inseparable from its owner.
Which of the following is not the role of on-the-job training?
Ms. Ramanpreet has started a new business venture, she intends to spend a huge amount towards ‘on-the-job training’ of her workers before putting them to work. It exhibits the right step in the direction of Human Capital Formation.
Spot which of the following does not directly contribute to the process of human capital formation by Ms. Ramanpreet -
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 |
When does economic growth leads to economic development?
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?
Out of following one is non-renewable source:
Identify, which of the following are associated with the problem of human capital formation in India?
- Brain drain
- Low academic standards
- Rising population
- Changes in social outlook
State with valid reason whether the following statement is true or false:
“Higher productivity and production are the outcome of investment in human resources.”
