Question 1

Human resources are superior to other resources because __________.

Accepted Answer

Human resource is different from
other resources like land and physical capital in the following ways:

From economic development
perspective, human resources exhibit multiple importances i.e. at one end human
resource act both producers as well as consumers. Human resource makes use of other
resources like land and physical capital to produce an output. Human resources are considered
superior to other resources as it is not confined to one region or place. It
can spread to other places and diversify.

Question 2

Distinguish between physical capital and human capital.

Accepted Answer

Differences between physical capital and human capital.Physical Capital   Human capital1. Any non-human asset made by humans and then used in production it is known as physical capital.   1. When the existing 'human resource' is further developed by becoming more educated and healthy we call it human capital formation that adds to the productive power of the country.2. It is tangible and can be sold in the market, e.g., goods like a bus or a machine.   2. It is not tangible and cannot be sold in the market because it is naturally built in the mind and body of its owner, only the services of human capital can be sold.3. Physical capital is separable from its owner.   3. Human capital is inseparable from its owner.4. Physical capital benefits only the owner.   4. Human capital benefits not only the owner but the society in general.5. Physical capital is inferior to human capital.      5. Human capital is superior to other resources like land and physical capital.6. Physical capital cannot become useful on its own.    6. Human capital can make use of physical capital.

Question 3

How does investment in human capital contribute to economic growth?

Accepted Answer

1:Investment in human capital is believed to be positively related to economic growth. It leads to efficient utilisation of the material inputs and capital. With increase in productivity, output increases at an increasing rate and hence economic growth accelerates. 2:Human capital is the fundamental source of economic growth. It is a source of both increased productivity and technological advancement.Human capital is described as the skills, training, and health acquired through on the job training and education.3:Economists have long believed that investments in education, or “human capital,” are an important source of economic growth.

Question 4

Which of the following explains the term economic growth?

Accepted Answer

An
increase in the amount of goods and services produced per head of the population
over a period of time is called economic growth. It includes increase in per capita production,
per capita real income and structural change in economics. It talks about
quantitative increase but not qualitative increase.

Question 5

Investment in human capital is expenditure on _____.

Accepted Answer

Investment in human capital is expenditure on:-EducationTrainingHealthcare

Question 6

Which of the following is NOT an indicator of economic development?

Accepted Answer

Decreased women participation in job market is not an indicator of economic development. It is not an indicator of economic development as the decreasing percentage of women will generate lower level of national income, in turn national output of an economy will also get decreased. Thus, decreased women participation in job market does not signify economic development.

Question 7

___________it is concerned with the determination of the number of personnel required in an organization.

Accepted Answer

Human resource planning is concerned with forecasting the future human resource requirements of the company and how the current human resource can be utilised to the fullest capacity.

Question 8

Which of the following explains the term economic development?

Accepted Answer

Economic
development is the economic growth accompanied by improvement in well being of man.
For example just increase in national income or increase in production of goods
and services is not an economic development but it is economic growth. It should
be accompanied by improvement in the quality of life like improvement in the
technology involved, improvement in production, improvement in
distribution system.

Question 9

Population becomes human capital when there is investment made in the form of education, training and _______.

Accepted Answer

Population becomes human capital when there is investment made in the form of education, training and medical care.

Question 10

What are the ideas underpinning 'soft', 'e-commitment', or 'high-road' HRM practices?

Accepted Answer

The ideas underpinning 'soft', 'e-commitment', or 'high-road' HRM practices is the labour needs to be treated as an asset to be invested in business.

Factors Determining Human Capital

Language

Rate

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