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ECONOMICS



                                                        Class-XII


                                                      CHAPTER 3



                                           Human Capital Formation


                                                     (Module-32)





               TOPIC:


                   •  Introduction
                   •  Physical Capital and Human Capital

                   •  Meaning of Human Capital Formation
                   •  Sources of Human Capital Formation

                   •  Human Capital and Economic Growth

               Short Notes



               Physical Capital –It includes all those inputs which are required for
               further production. Eg Plants, Machinery etc


               Human Capital –It refers to stock of skill ,ability ,expertise ,education

               and knowledge, embodied in the people.


                   •  It is needed to make effective use of physical capital.


               Meaning of Human Capital Formation- It refers to development of

               abilities and skills among the population of the country.
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