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Question
Assertion (A): Human capital is not traded in the market; however its services are traded.
Reason (R): Human capital is intangible in nature.
Options
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
Assertion (A) is true, but Reason (R) is false.
Assertion (A) is false, but Reason (R) is true.
Solution
Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
Explanation:
Human capital refers to the stock of educated, skilled, trained, and experienced labours that a nation has at any given moment. It has an intangible quality. Therefore, while its services might be traded, human capital itself is not traded on the market. For instance, medical services can be bought in the market. However, a doctor himself is not offered for sale.
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