Consider the following statement:

Human capital formation as a concept is better explained in terms of a process which enables

1. Individuals of a country to accumulate more capital.
2. Increasing the knowledge, skill levels and capacities of the people of the country.
3. Accumulation of tangible wealth
4. Accumulation of intangible wealth.

Which of the statements given above is/are correct?

a) 1 and 2

b) 2 only

c) 2 and 4

d) 1, 3 and 4