Question : Statement 1: Human capital formation is a one-time process that occurs during early childhood.
Statement 2: Human capital formation is a lifelong process that continues throughout an individual's life.
Option 1: Statement 1 is true, and statement 2 is true.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 1 is false, but statement 2 is true.
Option 4: Statement 1 is false, and statement 2 is false.
Correct Answer: Statement 1 is false, but statement 2 is true.
Solution : The correct answer is (c) Statement 1 is false, but statement 2 is true.
Statement 1 is false. Human capital formation is not a one-time process that occurs solely during early childhood. While early childhood is a critical period for human capital development, it is not the only phase. Human capital formation is an ongoing and lifelong process that continues throughout an individual's life. It involves acquiring knowledge, skills, and experiences through various stages of education, training, and work.
Statement 2 is true. Human capital formation is indeed a lifelong process. It includes continuous learning, skill development, and adaptation to changing economic and social demands. Individuals have the opportunity to enhance their human capital through formal education, vocational training, on-the-job learning, and personal development activities at different stages of their lives.
Therefore, statement 1 is false, and statement 2 is true.
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