Private vs Social Benefits
Human capital creates both private and social benefits, whereas physical capital creates:
- Both private and social benefits
- Only social benefits
- Only private benefits — Correct Answer
- Neither private nor social benefits
Explanation:
Correct Answer Explanation
Physical capital creates only private benefit — benefits flow to those who pay the price for goods and services.
Key Points:
- Human capital creates both private and social benefits.
- This is why government intervention in education and health is important.
📚 About this Topic — CH-4: HUMAN CAPITAL FORMATION IN INDIA
This multiple choice question is from CH-4: HUMAN CAPITAL FORMATION IN INDIA, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-4: HUMAN CAPITAL FORMATION IN INDIA to strengthen your preparation.
