NCERT Solutions for Class 11 Economics Indian Economic Development Chapter 5

Unit III- Human Capital Formation In India Class 11

Chapter 5 Unit III- Human Capital Formation In India Exercise Solutions

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Exercise : Solutions of Questions on Page Number : 96

Q1 :  

What are the two major sources of human capital in a country?


Answer :

Human capital is a stock of skill and expertise of a nation at a particular point of time. The contribution of human skills and expertise towards economic growth and development is invaluable. This is because a stock of quality enriched human capital raises individual efficiency and productivity thereby raising the aggregate production and economic well being of a country. Thus, the importance of investment in enriching human capital is immense and long lasting. The following are the two prime ways o to develop human capital qualitatively:

i. Investment in Educational Sector: Education not only raises the standard and quality of living but also encourages modern attitude of the people. Moreover, education increases the productive capacity and productivity of a nation's workforce by honing their skills. Further, education increases the acceptability of modern techniques and also facilitates a primitive economy to break the shackles of tradition and backwardness. An investment in educational sector has two fold benefits. It not only increases the income earning capacity but also reduces the skewed distribution of income thereby forming an egalitarian society. The investment in educational sector has long lasting returns. It not only enhances the present economic condition but also improves the future prospects of a country. The importance of education is not only limited to making people educated. but also in facilitating an underdeveloped economy to solve different but interrelated macro economic problems like, poverty, income inequality, population, investments, under utilisation of resources. Therefore, investment in education must be accorded high priority in an underdeveloped country as it leads to the enhancement of human capital qualitatively. 

ii. Investment in Health Sector: There is a saying “The greatest wealth is health”. The wealth of a country can be increased with the efforts of healthy workforce. Investment in health sector increases efficiency, efficacy and productivity of a nation's workforce. In contrast to an unhealthy person, a healthy person can work better with more efficiency and, consequently, can contribute relatively more to the GDP of the country. Good health and medical facilities not only increase life expectancy but also improves quality and standard of life. Investment in health sector ensures the perennial supply of healthy workforce. Some of the common expenditures incurred in the health sector are on providing better medical facilities, easy availability of life saving drugs, common vaccination, spread of medical knowledge, provision of proper sanitation and clean drinking water, etc. Thus, the expenditure incurred on health is important in building and maintaining a productive work force that in turn leads to the development of quality human capital in a country.


 

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Q2 :  

What are the indicators of educational achievement in a country?


Answer :

Education makes a person well equipped with skills. An educated person is more skillful and productive than an uneducated person. Consequently, the former enjoys higher income earning capacity than the latter. Therefore, the prime indicator of educational achievement is the income earning capacity of an individual. Besides this, there are other essential indicators whose scope is even wider. These are:

1. Adult Literacy Rate: This rate indicates the percentage of the literate adult population who are aged 15 years and above. The word literacy in this context is confined only to the ability to read and write. It provides a measure of the stock of literate persons within the adult population. This rate is expressed in terms of percentage. Higher the percentage of adult literacy rate, higher the educational achievement in a country. This rate is the most important indicator for a country as it indicates the percentage of the population that can participate in the economic activity of the country. 

2. Youth Literacy Rate: This rate indicates the percentage of literate people between the age of 15-24 who can read and write. It denotes the stock of literate population within the youth population. This is an important indicator of educational achievement in a country. This is because of the fact that majority of a country's population is not able to continue their education till this age. Therefore, higher the youth literacy rate, higher will be the achievement of a country in terms of education.

3. Primary Education Completion Rate: This rate indicates the percentage of students completing the last year of primary school. Primary education includes students of the class group 1 to 8 in the age group of 6-14 years. It includes basic education in reading, writing and mathematics along with an elementary understanding of other subjects such as history, geography, natural sciences, social sciences, art and music. Lower primary education completion rate leads to lower youth literacy rate and, hence, lower adult literacy rate. 


 

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Q3 :  

Why do we observe regional differences in educational attainment in India?


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Q4 :  

Bring out the differences between human capital and human development.


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Q5 :  

How is human development a broader term as compared to human capital?


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Q6 :  

What factors contribute to human capital formation?


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Q7 :  

Mention two government organisations that regulate the health and education sectors.


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Q8 :  

Education is considered an important input for the development of a nation. How?


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Q9 :  

Discuss the following as a source of human capital formation

(i) Health infrastructure

(ii) Expenditure on migration.


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Q10 :  

Establish the need for acquiring information relating to health and education expenditure for the effective utilisation of human resources.


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Q11 :  

How does investment in human capital contribute to growth?


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Q12 :  

There is a downward trend in inequality world-wide with a rise in the average education levels. Comment.


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Q13 :  

Examine the role of education in the economic development of a nation.


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Q14 :  

Explain how investment in education stimulates economic growth.


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Q15 :  

Bring out the need for on-the-job-training for a person.


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Q16 :  

Trace the relationship between human capital and economic growth.


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Q17 :  

Discuss the need for promoting women's education in India.


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Q18 :  

Argue in favour of the need for different forms of government intervention in education and health sectors.


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Q19 :  

What are the main problems of human capital formation in India?


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Q20 :  

In your view, is it essential for the government to regulate the fee structure in education and health care institutions? If so, why?


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<< Previous Chapter 4 : Unit III- Poverty Next Chapter 6 : Unit III- Rural Development >>

Indian Economic Development - Economics : CBSE NCERT Exercise Solutions for Class 11th for Unit III- Human Capital Formation In India will be available online in PDF book form soon. The solutions are absolutely Free. Soon you will be able to download the solutions.

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