Human capital formation mainly involves: MCQ with Answer and Explanation

Question
Human capital formation mainly involves:
A. increase in foreign exchange reserves
B. investment in education, health and skill development
C. increase in natural resources
D. accumulation of physical capital
Answer: Option B
Solution (By JKSSB Mock Tests)
Human capital formation involves investment in education, health and skills.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
In the context of economic planning, indicative planning is characterised by:
A. Absence of any targets
B. Only private sector planning
C. Complete government control over all sectors
D. Setting targets and providing incentives without compulsion
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Correct Answer: Option D

Explanation:
Indicative planning involves setting broad targets and providing incentives and information to guide private sector decisions rather than imposing compulsory directives.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is NOT a type of deposit accepted by commercial banks?
A. Saving deposits
B. Equity deposits
C. Demand deposits
D. Time deposits
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Correct Answer: Option B

Explanation:
Commercial banks accept demand deposits (current accounts), savings deposits and time (fixed) deposits. Equity deposits are not a standard category of bank deposits.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Economic Survey' in India is prepared by:
A. National Statistical Office
B. RBI
C. Department of Economic Affairs, Ministry of Finance
D. NITI Aayog
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Correct Answer: Option C

Explanation:
The Economic Survey is prepared by the Department of Economic Affairs in the Ministry of Finance.
This question belongs to: Economy GK Economy Set 1
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