CBSE · Class 11 · Economics · Human Capital Formation in IndiaWhat is meant by 'Human Development'?
Step-by-Step Solution
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 lead a long and healthy life, can they make other choices.
Detailed Options Breakdown
Option : Accumulation of physical capital only
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
Option 1: Process of widening choices and improving well-being through education and health (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 2: Increase in per capita income alone
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
Option 3: Industrialization of rural areas
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.