11th Economics Chapter 4
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– Concepts of Human Resource, Human Capital Formation, and Human Development: Education is not just about higher earning capacity; it also provides social standing, better life choices, understanding societal changes, and stimulates innovations.
– Investment in Human Capital: Similar to physical capital, societies need competent individuals to develop into nurses, farmers, teachers, etc., thereby necessitating investment in human capital.
– Sources of Human Capital: Investment in education, health, on-the-job training, migration, and information contribute to human capital formation and enhanced labour productivity.
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What are the two major sources of human capital in a country?
The two major sources of human capital in a country are education and health.
What are the indicators of educational achievement in a country?
Indicators of educational achievement in a country include literacy rates, enrollment ratios in primary, secondary, and tertiary education, and completion rates of educational programs.
Why do we observe regional differences in educational attainment in India?
Regional differences in educational attainment in India arise due to varying levels of infrastructure, governance, socio-economic factors, and cultural norms across different regions.
Bring out the differences between human capital and human development.
Human capital refers to the skills and knowledge individuals possess and can contribute to economic productivity, while human development is the broader concept encompassing overall well-being, including education, health, and standard of living.
How is human development a broader term as compared to human capital?
Human development is a broader term than human capital as it includes factors beyond economic productivity, such as health, education, social well-being, and overall quality of life.
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