Question : What does the term "brain drain" refer to in the context of human capital formation?
Option 1: Migration of skilled workers to other countries
Option 2: Development of the intellectual capabilities of individuals
Option 3: Investment in education and skill development programs
Option 4: Redistribution of income and wealth in society
Correct Answer: Migration of skilled workers to other countries
Solution : The correct answer is (a) Migration of skilled workers to other countries
In the context of human capital formation. Brain drain typically occurs when highly skilled and educated individuals leave their home country to seek better opportunities, higher salaries, or improved living conditions in another country. This migration of talented individuals can result in a loss of human capital for the home country, as it depletes the workforce of skilled professionals who could contribute to the country's development and growth. Brain drain is a concern for many developing countries, as it can hinder their efforts to build a strong and skilled workforce domestically.
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