UPSC Prelims 2018 · GS Paper 1 · Q49
Economy
Medium · Human Capital Formation vs Physical Capital
Consider the following developments in an economy:
1. A steel plant increases its installed production capacity by importing new machinery.
2. The workforce of a firm undergoes training that raises its average skill level.
3. A telecom company lays fresh optical fibre cable across several districts.
4. Public health spending leads to a healthier, more productive workforce over time.
Which of the above represent instances of human capital formation?