Question : Statement 1: Human capital formation is a one-time process that occurs during early childhood.
Statement 2: Human capital formation is a lifelong process that continues throughout an individual's life.
Option 1: Statement 1 is true, and statement 2 is true.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 1 is false, but statement 2 is true.
Option 4: Statement 1 is false, and statement 2 is false.
Correct Answer: Statement 1 is false, but statement 2 is true.
Solution : The correct answer is (c) Statement 1 is false, but statement 2 is true.
Statement 1 is false. Human capital formation is not a one-time process that occurs solely during early childhood. While early childhood is a critical period for human capital development, it is not the only phase. Human capital formation is an ongoing and lifelong process that continues throughout an individual's life. It involves acquiring knowledge, skills, and experiences through various stages of education, training, and work.
Statement 2 is true. Human capital formation is indeed a lifelong process. It includes continuous learning, skill development, and adaptation to changing economic and social demands. Individuals have the opportunity to enhance their human capital through formal education, vocational training, on-the-job learning, and personal development activities at different stages of their lives.
Therefore, statement 1 is false, and statement 2 is true.
Question : Statement 1: Human capital formation is a static process that does not adapt to changing needs.
Statement 2: Human capital formation is a dynamic process that requires constant adaptation to changing economic and technological landscapes.
Question : Statement 1: Human capital formation is a passive process that relies solely on individuals' efforts.
Statement 2: Human capital formation requires proactive investments and interventions from governments and institutions.
Question : Statement 1: Human capital formation is an expensive process that does not yield significant returns.
Statement 2: Human capital formation is a worthwhile investment that yields long-term economic and social benefits.
Question : Statement 1: Human capital formation leads to a decrease in technological advancements.
Statement 2: Human capital formation fuels technological advancements and fosters innovation.
Question : Statement 1: Human capital formation leads to an increase in unemployment rates.
Statement 2: Human capital formation reduces unemployment rates.
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