Question : Statement 1: Human capital formation is a static process that does not adapt to changing needs.
Statement 2: Human capital formation is a dynamic process that requires constant adaptation to changing economic and technological landscapes.
Option 1: Statement 1 is true, and statement 2 is true.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 1 is false, but statement 2 is true.
Option 4: Statement 1 is false, and statement 2 is false.
Correct Answer: Statement 1 is false, but statement 2 is true.
Solution : The correct option is (c) Statement 1 is false, but statement 2 is true.
Statement 1 is false because human capital formation is not a static process. It involves continuous learning, skill development, and adaptation to changing economic and technological landscapes. The needs of the labor market evolve over time, and individuals need to acquire new knowledge, upgrade their skills, and stay relevant to meet the demands of the changing environment. Human capital formation is an ongoing and dynamic process that requires individuals and societies to adapt and respond to new challenges and opportunities. Therefore, statement 2 is true.
Question : Statement 1: Human capital formation leads to a decrease in technological advancements.
Statement 2: Human capital formation fuels technological advancements and fosters innovation.
Question : Statement 1: Human capital formation is a passive process that relies solely on individuals' efforts.
Statement 2: Human capital formation requires proactive investments and interventions from governments and institutions.
Question : Statement 1: Human capital formation is a one-time process that occurs during early childhood.
Statement 2: Human capital formation is a lifelong process that continues throughout an individual's life.
Question : Statement 1: Technological advancements have no impact on human capital formation.
Statement 2: Technological advancements drive the need for continuous human capital development and upskilling.
Question : Statement 1: Human capital formation is an expensive process that does not yield significant returns.
Statement 2: Human capital formation is a worthwhile investment that yields long-term economic and social benefits.
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