MP Board · Class 11 · Economics · Human Capital Formation in IndiaWhat is the difference between human capital and human development?
Step-by-Step Solution
Human capital treats human beings as a means to an end (increase in productivity), whereas human development treats human beings as an end in themselves (well-being of people).
Detailed Options Breakdown
Option : Human capital considers humans as a means, while human development considers humans as an end in themselves (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 1: Both are identical concepts with no difference
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
Option 2: Human capital relates to physical goods
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Human Capital Formation in India.
Option 3: Human development ignores education
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.