Question : Which term refers to the process of increasing the knowledge, skills, and abilities of the human workforce?
Option 1: Human resource development
Option 2: Human capital formation
Option 3: Labor market analysis
Option 4: Skill development program
Answer (1)
9th Jan, 2024
Correct Answer: Human capital formation
Solution : The correct answer is (b) Human capital formation.
Human capital formation encompasses the development of human resources through education, training, skill acquisition, and overall capacity building. It emphasizes the investment in individuals to enhance their productivity and contribute to economic growth and development.
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