Question

Nandu is a 10 year old boy. He is living in a slum. He used to be a rag picker. His father is
a construction labour. His mother washes dishes at homes in a nearby posh colony. One
day an NGO came at the slum and made people aware about the benefits of education.
They also set up classes for the education of the children of slums. Nandu used to go
there daily. Within a few months he learnt counting, alphabets and some good habits like
washing hands before eating. Now he helps her mother in making budget of household,
checking price of items which he buys from nearby shop. He also teaches counting to his
6 year old sister at home. Analyse the information given above, considering one of the
following correct option
(a) Human capital formation.
(b) Physical capital formation
(c) Non-market economic activity.
(d) None of the above ​

Answer 1

Answer:

human capital information

Answer 2

The above story is about Nandu and his family and their methods of earning is an example of (A) Human Capital Formation.

1. Human capital includes the skills, knowledge, experience that any individual human possesses

2. It is viewed in terms of the value or cost it adds to a company, organisation or country.

3. Human capital formation is the process of adding to the already present stock of human capital over a period of time.

4. It includes hiring more experienced and skilled human labour

5. Both human resources and human resource formation is important for development.