ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Investing in people through nutrition, health care, quality education, jobs and skills helps develop human capital, and this is key to ending extreme poverty and creating more inclusive societies.

Detailed explanation-2: -Singapore has been ranked top in Asia for developing human capital in a new report by the World Economic Forum (WEF).

Detailed explanation-3: -Health is a very important source for human capital formation. A healthy person will always be more productive and contribute to the nation than an unhealthy person. Expenditure on health will directly supply the nation with a healthy workforce.

Detailed explanation-4: -Investments in human capital encourage employees to work together and identify improvements that will directly benefit them. Those investments often prompt the opening of communication lines between departments and management levels, allowing human capital to flow more freely within the organization.

Detailed explanation-5: -Human capital is said to include qualities like an employee’s experience and skills. Since all labor is not considered equal, employers can improve human capital by investing in the training, education, and benefits of their employees.