CBSE · Class 11 · Economics · Human Capital Formation in IndiaWhich of the following is considered a major source of human capital formation?
Step-by-Step Solution
Expenditure on education is considered a major source of human capital formation because it enhances the productivity and earning capacity of individuals, leading to higher economic growth.
Detailed Options Breakdown
Option : Expenditure on education (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 1: Purchase of luxury cars
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
Option 2: Hoarding of gold
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
Option 3: Investment in foreign bonds
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
💡 Study Guide: This question tests core syllabus concepts from Human Capital Formation in India. For formulas, key summaries, and mock exam reference guides, read the full Human Capital Formation in India Revision Notes.