Indian Economic Development: Human Capital Formation in India · Class 12 · CBSE · Commerce Economics
Which situation best illustrates human capital formation through on-the-job training?
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.
easy · MCQ · Q-87282A
Which situation best illustrates human capital formation through on-the-job training?
- A.A factory replaces an old machine with a new machine
- B.A firm trains its workers to operate advanced production softwareCorrect answer
- C.A family purchases additional farmland
- D.A shop increases its stock of finished goods
Solution
On-the-job training improves workers’ knowledge and skills, thereby raising their productivity and future earning capacity. It is therefore a source of human capital formation.
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