ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -In communist nations, government makes all economic decisions; owns the land, natural resources, industry, banks, and transportation system; and controls all mass communication.

Detailed explanation-3: -Human capital allows an economy to grow. When human capital increases in areas such as science, education, and management, it leads to increases in innovation, social well-being, equality, increased productivity, improved rates of participation, all of which contribute to economic growth.

Detailed explanation-4: -The government, rather than the free market, determines the amount of output (or supply) and the pricing levels of these goods and services. Communist countries, such as China, North Korea, and Cuba, tend toward socialism, while Western European countries favor capitalist economies and try to chart a middle course.