Question : Which of the following factors contributes to human capital formation?
Option 1: Decreased investment in education and healthcare
Option 2: Low levels of literacy and numeracy in the population
Option 3: Lack of access to educational opportunities
Option 4: Government policies promoting education and healthcare
Correct Answer: Government policies promoting education and healthcare
Solution : The correct answer is (d) Government policies promoting education and healthcare.
Government policies that promote education and healthcare are significant factors that contribute to human capital formation. By investing in education and healthcare systems, governments can enhance the knowledge, skills, and health of their population, leading to improved human capital. These policies may include measures such as increasing funding for education, providing scholarships and grants, improving access to quality education and healthcare services, implementing training programs, and supporting research and development initiatives. These actions help individuals acquire and develop skills, knowledge, and capabilities, which are crucial for their productive participation in the economy and society.
Question : Statement 1: Investment in education is the only factor that contributes to human capital formation.
Statement 2: Investment in healthcare and nutrition also plays a significant role in human capital formation.
Question : Statement 1: Human capital formation has no impact on the overall well-being of society.
Statement 2: Human capital formation contributes to the overall well-being of society by improving education, healthcare, and standard of living.
Question : Assertion: Government policies play a crucial role in promoting human capital formation.
Reason: Government interventions can improve access to education and healthcare services.
Question : The "cost of human capital" includes:
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