Question : Assertion: Human capital is a determinant of economic competitiveness.
Reason: Highly skilled individuals contribute to the growth and productivity of industries.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
Correct Answer: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Solution : The correct option is (a) Both assertion and reason are true, and the reason is the correct explanation of the assertion.
The assertion that human capital is a determinant of economic competitiveness is true. Human capital, which refers to the knowledge, skills, abilities, and experience of individuals, plays a crucial role in driving economic competitiveness. Highly skilled individuals contribute to the growth and productivity of industries by bringing innovative ideas, applying advanced technologies, and improving operational efficiency. They possess the expertise and knowledge necessary to enhance productivity, develop new products and services, and adapt to changing market conditions. Therefore, a country with a well-developed and highly skilled workforce is more likely to be economically competitive in global markets.
The reason provided states that highly skilled individuals contribute to the growth and productivity of industries, which is a correct explanation of the assertion. Skilled individuals have the ability to apply their expertise effectively, drive innovation, and improve the overall performance of industries. They are more likely to contribute to technological advancements, research and development activities, and process improvements, all of which enhance the competitiveness of industries and the economy as a whole.
Therefore, both the assertion that human capital is a determinant of economic competitiveness and the reason that highly skilled individuals contribute to the growth and productivity of industries are true, and the reason is the correct explanation of the assertion.
Question : Assertion: Industrial sector reforms aimed to enhance productivity and competitiveness.
Reason: Increased productivity and competitiveness contribute to overall economic growth.
Question : Assertion: Human capital is a determinant of economic productivity.
Reason: Skilled individuals are more efficient and effective in their work, leading to increased productivity.
Question : Assertion: Human capital is a driver of innovation and technological progress.
Reason: Highly skilled individuals are more likely to contribute to scientific and technological advancements.
Question : Assertion: Human capital fosters economic resilience and adaptability.
Reason: Skilled individuals can easily transition to new industries and occupations.
Question : Assertion: Trade reforms in the 1991 economic policy aimed to reduce import tariffs.
Reason: Lower import tariffs can stimulate domestic industries and enhance competitiveness.
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