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प्रश्न
How is human development a broader term as compared to human capital?
उत्तर
Human development is a broader term as compared to human capital because human capital is a means to an end whereas human development is an end in itself.
Human capital considers education and health as a means to make a human being a good productive person. Human capital is a means to an end, where means implies skills that are used in the process of production and end denotes the consequent increase in the productivity. The higher levels of output can be achieved through extensive application of human capital.
On the other hand, human development is an end in itself which refers to the holistic development of the individuals. The development can be possible only by acquiring good education and attaining good health. Therefore, education and health are the two main features of human development. Human development occurs when majority of people in the economy are educated and healthy. Thus, the end signifies the development of an individual via education and health. Therefore, we can conclude that human development is a broader term as compared to human capital.
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संबंधित प्रश्न
Bring out the differences between human capital and human development.
Human capital treats humans as ends in themselves.
Which of the following is not a merit of human capital formation?
The stock of skill and expertise of a nation at a particular point of time is known as ______.
Read the following statements - Assertion (A) and Reason (R):
Assertion (A) - Human capital treats human beings as a means to an end (increase in productivity).
Reason(R) - Human Capital Formation decreases by way of investments in education and health.
From the given alternatives choose the correct one:
Read the following case study carefully and answer the question that follows.
Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.
Human Capital Formation came into existence in ______.
Read the following case study carefully and answer the question that follows.
Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.
Economists say that the main key player of economic development is ______.
Read the following case study carefully and answer the question that follows.
Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.
In ______ Five year Plan, India emphasized on human capital formation.
Read the following case study carefully and answer the question that follows.
Human capital can be defined as the body of knowledge possessed by the population and the capacity of the population to use the knowledge effectively. Until the late 1950s, no economist and any other social scientist did pay much attention to the role of investment in human beings as an important determinant of economic development. The birth of this idea can be dated from the presidential address of Prof. Theodore W. Schultze to the American Economic Association in December 1960. As a result, the concept of human capital formation came to the limelight. A circular relationship between human development and economic growth has come to be established. Economic growth creates conditions for better health and education facilities; which in turn spur economic growth.
________ means an improvement in the quality of life and living standards, e.g., measures of literacy, life expectancy, and health care.
Which of the following points indicate the difference between human capital and human development?
How is human development a broader term as compared to human capital?
State whether the following statement is true/false, with valid argument:
Human Capital and Human Development are one and the same thing.
Assertion (A): Human capital is not traded in the market; however its services are traded.
Reason (R): Human capital is intangible in nature.
"Active Government intervention is essential in education and health sectors in India."
Do you agree with the given statement? Give reasons in support of your answer.
