1.State the need of investment on human capital?
• There is a need to undertake investment on human capital.
• It is necessary to invest on human resources to make them more into more innovative, Productive,
and useful by investing on their education health and training.
• The government is taking many steps to educate train and protect the health of population to
make it qualitative for economic development.
2.why individuals spend the money on education?
• Investment in education is considered as one of the main resources of human capital formation.
• spending on education by individuals is similar to spending on capital goods by companies to
increase their profits in future.
• similarly individuals invest in education in order to increase their earnings in the form of money
income in future.
3.What are the two major sources of human capital in a country?
• investment on education.
• investment on healthcare facilities.
4.What are the Educational achievement in a country?
• Adult literacy rate.
• Primary education completion rate
• youth literacy rate.
5.What factors contribute to human capital formation?
• Expenditure on education
• Health
• Training
• Information
• Migration.
6.What are the various forms of health expenditures?
• preventive medicine.
• curative medicine.
• social medicine.
• provision of clean drinking water and good sanitization.
7.Education is considered to be an important input for the development of the nation how ?
• The contribution of educated persons to economic growth is more than the that of illiterate
persons.
• Education provides knowledge to understand changes in society and scientific advancements
and facilitate invention and innovation.
• Further, the availability of educated labour force facilitates the adaptation of new technologies.
• to sum up, the education is considered as imported input for the development of a nation in the
following ways.
• it gives a person a capacity to earn higher revenue.
• it provides knowledge to understand the changes taking place in society.
• It encourages innovations.
• It facilitates development and adoption of new techniques of production
8.How does investment in human capital contribute to growth?
• economic growth refers to increase in real national income of a country over a period of time.
• Human capital refers to skills and knowledge imbibed In human beings.
• We know that the labor skill of an educated person is more than that of the illiterate person.
• the contribution of educated person to economic growth is more than that of an uneducated
person.
• health is also an important factor for economic growth.
• and healthy person could provide uninterrupted labor supply for a long period of time.
• The human capital contributes substantially not only towards increasing labour productivity but
also stimulates innovations and creates ability to absorb new technologies.
• Therefore, a higher rate of human capital formation definitely contributes towards economic
growth.
9.Bring out the need of on the job training for a person.
• On the job training is nothing but an arrangement of training in which the labourers are given an
opportunity to obtain skills while working
• includes the following,
• providing training to workers in the industry itself.
• arranging training facilities outside the industry therefore, off campus training.
• Providing online training arranging satellite program.
• Arranging excursion to industrially advanced regions and providing training.
• the employees come trainees get ample time for learning new methods of production under the
supervision of skilled workers.
• the employees get extra technical skill without incurring any expenditure.
• the employees will get adjusted to Technical advancement and get promotion in their jobs.
• it helps in undertaking innovations.
10.Discuss the need for promoting women’s education in India?
• the differences in literacy rates between males and females are narrowing signifying a positive
development in gender equality.
• There is a need to promote women’s education in India for the following reasons,
• education improves the economic independence of women.
• education increases the social status of women in the society.
• education makes a favorable impact on fertility rate.
• Education leads to better healthcare for both the women and children.
11.Discuss the following as a source of human capital formation.
Health infrastructure,
• preventive medicine vaccinations to prevent deadly diseases.
• curative medicine obtaining medicinal treatment during illness.
• social medicine spread of awareness about keeping good health and its importance.
• provision of clean drinking water and sanitization.
• The healthy individuals are source of human capital as they directly contribute for regular and
higher productivity of labour.
• A sick labourer without access to medical facilities as to remain absent from work.
• this leads to loss of productivity.
• Hence, Expenditure on health is an important source of human capital formation.
Expenditure on migration.
• People migrate from their native place in search of jobs which bring higher salaries.
• Unemployment is the only reason for rural urban migration in India.
• technically qualified persons like engineers and doctors migrate to other countries to earn
better income.
• ends expenditure on migration is also a source of human capital formation.
