Production, Goods, and Inputs CDS Questions

CDS Economy

Production, Goods, and Inputs MCQ Questions


13.
'Human Capital' refers to:
A.
The money invested in machinery
B.
Stock of buildings owned by workers
C.
The knowledge, skills, experience and health embodied in people
D.
Natural resources used in production
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ANSWER :
C. The knowledge, skills, experience and health embodied in people
14.
Which of the following is the BEST example of investment in human capital?
A.
Buying a new factory machine
B.
Spending on workers' education and skill training
C.
Purchasing raw materials
D.
Acquiring more land
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ANSWER :
B. Spending on workers' education and skill training
15.
How does human capital differ from physical capital?
A.
Human capital is embodied in people; physical capital is in tangible assets like machines
B.
Both are exactly the same
C.
Human capital is a free gift of nature
D.
Physical capital cannot be used in production
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ANSWER :
A. Human capital is embodied in people; physical capital is in tangible assets like machines
16.
Which of the following is a facilitator of human capital formation?
A.
Soil erosion
B.
Education, training and healthcare
C.
Depreciation of machines
D.
Inflation
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ANSWER :
B. Education, training and healthcare
17.
Skill is best defined as:
A.
A free gift of nature
B.
The ability to do an activity or job well with practice and training
C.
Money invested in a firm
D.
A type of intermediate good
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ANSWER :
B. The ability to do an activity or job well with practice and training
18.
Adult Literacy Rate is defined as the percentage of people aged ___ and above who can read and write with understanding.
A.
7
B.
10
C.
15
D.
18
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ANSWER :
C. 15