ECONOMICS (CBSE/UGC NET)

ECONOMICS

HUMAN CAPITAL

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What would be the MOST effective way for a country to raise the average standard of living of its people?
A
cut taxes and reduce government programs
B
improve literacy rates by investing in education
C
nationalize industries and set production quotas
D
decrease competition by creating barriers to trade
Explanation: 

Detailed explanation-1: -Schemes such as Sarva Shiksha Abhiyan Scheme provide free education, Mid-Day meal scheme provides food for the students. Poor people send their children to school as they are getting food in school. Scholarships are also provided to increase the interest of students.

Detailed explanation-2: -A higher rate of participation of human capital and equality amongst them leads to higher employment rate. As the employment increases there will be a rise in production. Also, the standard of living increases by an increase in income and increase in employment opportunities helps in reducing inequalities of wealth.

Detailed explanation-3: -Boost free education. Organize awareness programs. More schools should be built. Infrastructure improvements at the school. Bring in new teaching techniques. Computer literacy should be promoted. 26-Sept-2022

Detailed explanation-4: -New India Literacy Programme (NILP) Each One Teach One Programme. Smile Twin-E-Learning Programme. National Digital Literacy Mission (NDLM) and Digital Saksharta Abhiyan (DISHA) Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) 08-Sept-2022

There is 1 question to complete.