Question : Statement 1: Human capital formation is solely the responsibility of the education system.
Statement 2: Human capital formation involves the collective efforts of the education system, government, businesses, and individuals.
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 solely the responsibility of the education system. While education plays a significant role in developing human capital, it is not the only factor involved. Human capital formation is a multifaceted process that requires the collective efforts of various stakeholders, including the education system, government, businesses, and individuals.
Statement 2 is true as human capital formation involves the collaborative efforts of multiple entities. The education system provides formal education and training, but the government also plays a crucial role in formulating policies, providing funding, and creating an enabling environment for human capital development. Businesses contribute by providing opportunities for skill acquisition and employment, while individuals actively engage in learning and skill development throughout their lives. The collective efforts of these stakeholders contribute to the formation and enhancement of human capital.
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 hinders economic productivity.
Statement 2: Human capital formation enhances economic productivity through the development of skilled and knowledgeable individuals.
Question : Statement 1: Human capital formation can only occur through formal education.
Statement 2: Human capital formation can occur through various channels, including formal education, vocational training, and on-the-job learning.
Question : Statement 1: Investment in education is the only factor that contributes to human capital formation.
Statement 2: Investment in healthcare and nutrition also plays a significant role in human capital formation.
Question : Statement 1: Human capital formation leads to a decrease in technological advancements.
Statement 2: Human capital formation fuels technological advancements and fosters innovation.
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