human capital formation

Question 1

what is human capital formation?

Answer 1

It refers to the skill, experience and wisdom possessed by an individual or population viewed in terms of its value/contribution to an organisation or the country.

Question 2

What are the sources of human capital formation?

Answer 2

EDUCATION

• skills
• training
• improves efficiency
• make right decisions

HEALTHCARE

• less absenteeism
• more productive
• more effort
• prevenetive medicinie
• curative medicine
• social medicine
• adequate sanitation

INFORMATION

• investment for development of human capital
• efficient utilisation for acquired human capital stock

ON-THE-JOB TRAINING
- on campus under skilled workers
off campus
- usually required to work after to gain back costs
- increased skills and productivity compensate for costs

MIGRATION
- cost of transportation higher living and psychological costs are compensated by increased earnings

Question 3

what are the differences between physical and human capital?

Answer 3

PHYSICAL | CAPITAL
- it refers to the assets and | It refers to the the skills ,
machinery that can be bought experience and know-
or invested in to produce ledge of an individual or
goods and services. population that is viewed
- It will depreciate and at some in terms of its value to an
point will become completely organisation or country.
obsolete unable to function - It does depreciate with
or cope with new technology. age but training and
It will have to be replaced. education can reduce
- It is tangible and can be the effects. It can cope
separated from the owner. with technology.
- It’s mobility is only restricted It is non-tangible and
by artificial trade restrictions cannot be separated from
and barriers. the owner.
- Investing in it is a technical - Its mobility is restricted
and economic process. by culture, language
It is done by analysing the nationality. However, it
rates of returns and choosing can be transferred through
the most beneficial option. conscious policy
- It leads to only private benefit. formation in consonance
with the nature of the
society and economy, the
expenditure of the state
and the individual.

Question 4

What measures are educational achievements in a country indicated by?

Answer 4

Adult literacy rate
primary education completion rate
youth literacy rate

Question 5

gender education

Answer 5

gap between male and female literacy has been reducing however we still need to focus on women’s education to improve economic independence and socail position and because fertility rates and health care of women is impacted by women education

Question 6

What is the importance of hcf?

Answer 6

adequate usage of physical capital
innivations inventions scientific an technological advancements
imorvemnet in society
modernization
longer life
improvement in quality of life 
population control

Question 7

What are the problems of hcf?

Answer 7

brain drain - better employment and salary highly skilled rare move
INEFFECIENCIES - lack of education health non-utilization lack of proper manpower planning- supply and demand high skileld - wastage of resources
INCREASE IN POULATION - lower per capita resources
INSUFFICIENT RESOURCES - insuffiecienct and inadequate
imbalances - more spent on tertiary few people - less primary and secondary - low general productivity
weak science and technology -