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What is Economic Growth?
Economic Growth means increase in National income of Country
Who contributes more to Economic Growth - A skilled person or an illiterate person?
A skilled person contributes more Economic Growth
It is because he earns higher income as compared to illiterate person
Who contributes more to Economic Growth - A Healthy Person or Sick Person?
A healthy person contributes more to economic growth
It is because he has higher productivity and able to work longer as compared to a sick person
How does Increase in Human Capital Contribute to Economic Growth?
Human Capital is increased by providing
Education to children
Skill Development to Workforce
Improvement in Health Facilities
Providing Information for Research and Development Facilities
All these lead to Increase in Economic Growth in following manner:
A skilled person contributes more Economic Growth as compared to illiterate person
A healthy person contribures more to economic growth than an unhealthy person
Skill Development of a person helps them to adapt to new technologies
Education provides knowledge to understand changes in societies.
It also leads to new inventions and innovations which causes Economic Growth
Adequate education and training to farmers can also increase productivity in farms
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NCERT Questions
Question 11
How does investment in human capital contribute to growth?
Question 16
Trace the relationship between human capital and economic growth.
View AnswerInvestment in Human Capital is done in following ways:
Education to children
Skill Development to Workforce
Improvement in Health Facilities
Providing Information for Research and Development Facilities
All these lead to Increase in Economic Growth in following manner:
A skilled person contributes more Economic Growth as compared to illiterate person
A healthy person contribures more to economic growth than an unhealthy person
Skill Development of a person helps them to adapt to new technologies
Education provides knowledge to understand changes in societies.
It also leads to new inventions and innovations which causes Economic Growth
Adequate education and training to farmers can also increase productivity in farms
MCQ Other Books
Question 1
In the following questions, select the correct answers:
How does increased human capital contribute to economic growth?
- A skilled person contribures more Economic Growth as compared to illiterate person
- Skill Development of a person helps them to adapt to new technologies
- It increased the total population which leads to increased economic growth
- None of the above
A. A skilled person contributes more Economic Growth as compared to illiterate person
B. Skill Development of a person helps them to adapt to new technologies
