Indian Economic Development: Human Capital Formation in India · Class 12 · CBSE · Commerce Economics
Which of the following is not a source of human capital formation?
Practice question from Indian Economic Development: Human Capital Formation in India (Class 12 · CBSE · Commerce Economics), with the correct answer and a step-by-step solution.
medium · MCQ · Q-54DF07
Which of the following is not a source of human capital formation?
- A.Expenditure on education
- B.Expenditure on healthcare
- C.On-the-job training
- D.Increase in the stock of machines without any improvement in workers' skillsCorrect answer
Solution
Education, healthcare and on-the-job training develop the capabilities of people and are sources of human capital formation. An increase in machines represents physical capital formation, not human capital formation.
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