ECONOMICS
HUMAN CAPITAL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Investment in education and health must result in productivity measured in terms of output of goods and/or services.
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Economy should be driven not by natural resources, but human resources.
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Education and Health are integral to human well-being.
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Social Welfare of a country is an important measure for growth and is integral for human well-being.
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Detailed explanation-1: -Human development is based on the idea that education and health are integral to human well-being because only when people have the ability to read and write and the ability to lead a long and healthy life, they will be able to make other choices which they value.
Detailed explanation-2: -Good physical health includes nutrition, hydration, exercise, rest and medical help when needed.
Detailed explanation-3: -Role of health in human capital formation are as follow: Only a healthy person can work efficiently and with full potential. A healthy person can work in a more effective manner. A healthy person can work in a productive way and in this way it can contribute better in the development of the economy of the country.
Detailed explanation-4: -Human capital formation considers education and health as a means to increase labour productivity. Human capital formation is concerned with transforming the people of the country into workers. Better education and health will increase the productivity of labour.
Detailed explanation-5: -A good quality education is the foundation of health and well-being. For people to lead healthy and productive lives, they need knowledge to prevent sickness and disease. For children and adolescents to learn, they need to be well nourished and healthy.