ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A company pays for its workers to go to graduate school.
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A company buys a new computer system to improve productivity.
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A company hires a lobbyist to fight government regulations.
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A company starts using better materials to improve product quality.
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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: -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-3: -The human capital theory posits that human beings can increase their productive capacity through greater education and skills training. Critics of the theory argue that it is flawed, overly simplistic, and confounds labor with capital.
Detailed explanation-4: -Ans. Investment in human capital can be made through education, training, medical care etc.