GyanGramConsider the following statements: Human capital formation as a concept is better explained in terms of a pro…
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Consider the following statements: Human capital formation as a concept is better explained in terms of a process, which enables
1. individuals of a country to accumulate more capital.
2. increasing the knowledge, skill levels and capacities of the people of the country.
3. accumulation of tangible wealth.
4. accumulation of intangible wealth.
Which of the statements given above is/are correct?
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• Correct Answer: B
• Human capital formation is the process of enhancing knowledge, skills, and capacities of a population.
• It represents intangible wealth (expertise, education, health) embodied in people, not tangible physical assets.
• Statements 1 and 3 are incorrect as they describe physical/financial capital accumulation.
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