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: -Human capital theory is about the idea of humans increasing their productivity and efficiency through a greater focus on education and training. Human capital is the study of human resources. It talks about the development of economic value from how we function as a society.

Detailed explanation-3: -The concept of human capital investment is mainly investment done by a firm or an individual on education/training and to expect a return of that investment in terms of revenue/capital. Human capital consists of three main components: ability, earlier education, and knowledge gained by training on job premises.

Detailed explanation-4: -Health is a kind of human capital as well as an input to producing other forms of human capital. Being unhealthly depresses the ability to work productively and/or the ability and incentives to invest in human capital. Taken together, these mechanisms imply that worse health implies lower income.