{"id":1751,"date":"2024-03-29T14:56:26","date_gmt":"2024-03-29T09:26:26","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=1751"},"modified":"2024-04-03T07:12:55","modified_gmt":"2024-04-03T01:42:55","slug":"q-consider-the-following-statements-71","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-consider-the-following-statements-71","title":{"rendered":"Q.\u00a0Consider the following statements:"},"content":{"rendered":"\n

Human capital formation<\/strong> as a concept is better explained in terms of a process which enables<\/p>\n\n\n\n

    \n
  1. Individuals of a country to accumulate more capital.<\/li>\n\n\n\n
  2. Increasing the knowledge, skill levels and capacities of the people of the country.<\/li>\n\n\n\n
  3. Accumulation of tangible wealth.<\/strong><\/li>\n\n\n\n
  4. Accumulation of intangible wealth<\/li>\n<\/ol>\n\n\n\n

    Which of the statements given above is\/are correct?<\/p>\n\n\n\n

      \n
    • (a) 1 and 2<\/li>\n\n\n\n
    • (b) 2 only<\/li>\n\n\n\n
    • (c) 2 and 4<\/li>\n\n\n\n
    • (d) 1, 3 and 4<\/li>\n<\/ul>\n\n\n\n
      \n

      Answer:<\/strong> (c) 2 and 4<\/strong><\/p>\n<\/blockquote>\n\n\n\n

      Notes:<\/h5>\n\n\n\n
        \n
      • According to the OECD, human capital is defined as: \u201cthe knowledge, skills, competencies and other attributes embodied in individuals or groups of individuals acquired during their life<\/strong> and used to produce goods, services or ideas in market circumstances\u201d. <\/li>\n\n\n\n
      • Human capital formation refers to the process of adding to the stock of human capital over time.<\/strong> It is the process of acquiring and increasing the number of skilled and experienced people<\/strong>. It is essential for the development of an economy.<\/li>\n\n\n\n
      • Intangible wealth of a nation comprises of the skilled population, human resource base, culture, arts etc.<\/strong><\/li>\n\n\n\n
      • Human capital formation is the outcome of investments in education, health, on-the-job training, migration and information.<\/strong><\/li>\n\n\n\n
      • As per RBI,\u00a0Gross capital formation<\/strong>\u00a0refers to the \u2018aggregate of\u00a0gross\u00a0additions to fixed assets (that is fixed\u00a0capital formation) plus change in stocks during the counting period.\n
          \n
        • Tangible capital is also GCF is it involves largely infrastructural components.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

          Human capital formation as a concept is better explained in terms of a process which enables Which of the statements given above is\/are correct? Answer: (c) 2 and 4 Notes:<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[38],"years":[55],"class_list":["post-1751","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-indian-economy","years-55"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":38,"label":"Indian Economy"}],"years":[{"value":55,"label":"2018"}]},"featured_image_src_large":false,"author_info":{"display_name":"LotusArise","author_link":"https:\/\/lotusarise.com\/qna\/author\/team-lotusarise"},"comment_info":0,"category_info":[{"term_id":1,"name":"UPSC","slug":"upsc","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":1269,"filter":"raw","cat_ID":1,"category_count":1269,"category_description":"","cat_name":"UPSC","category_nicename":"upsc","category_parent":0},{"term_id":3,"name":"Prelims","slug":"prelims","term_group":0,"term_taxonomy_id":3,"taxonomy":"category","description":"","parent":1,"count":1251,"filter":"raw","cat_ID":3,"category_count":1251,"category_description":"","cat_name":"Prelims","category_nicename":"prelims","category_parent":1}],"tag_info":[{"term_id":38,"name":"Indian Economy","slug":"indian-economy","term_group":0,"term_taxonomy_id":38,"taxonomy":"post_tag","description":"","parent":0,"count":225,"filter":"raw"}],"_links":{"self":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/comments?post=1751"}],"version-history":[{"count":0,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/posts\/1751\/revisions"}],"wp:attachment":[{"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/media?parent=1751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/categories?post=1751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/tags?post=1751"},{"taxonomy":"years","embeddable":true,"href":"https:\/\/lotusarise.com\/qna\/wp-json\/wp\/v2\/years?post=1751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}