Question : Human capital refers to:
Option 1: Physical assets owned by individuals
Option 2: Knowledge, skills, and abilities possessed by individuals
Option 3: Financial resources invested in education
Option 4: Natural resources utilized by individuals
Correct Answer: Knowledge, skills, and abilities possessed by individuals
Solution : The correct answer is (b) Knowledge, skills, and abilities possessed by individuals.
It represents the attributes and qualities that individuals possess, including their education, training, experience, creativity, and other intangible assets that contribute to their productivity and potential economic contribution.
Human capital is recognized as a crucial factor in economic growth and development. Investing in education, skill development, and training programs can enhance human capital, leading to increased productivity, innovation, and overall economic prosperity.
Question : Which of the following is an example of social capital?
Option 1: Knowledge and skills possessed by individuals
Option 2: Physical infrastructure of a country
Option 3: Social networks and relationships
Option 4: Financial resources owned by individuals
Option 1: Physical capital used in production
Option 2: Financial capital used in production
Option 3: Skills, knowledge, and education of the workforce
Option 4: Natural resources used in production
Question : The concept of "social capital" refers to:
Option 1: The financial resources owned by individuals
Option 2: The physical infrastructure of a country
Option 3: The network of social relationships and trust in a society
Option 4: The natural resources available in a region
Question : What are 'common property resources'?
Option 1: Resources owned by individuals
Option 2: Resources owned by the government
Option 3: Resources shared by a community
Option 4: Resources exclusive to a particular region
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