The concept of human capital formation is primarily concerned with enhancing the knowledge, skills and capacities of a country`s people (statement 2), and accumulating intangible wealth such as education, health, and other skills (statement 4).

Option 1 and 3 do correlate with the concept but they are not entirely correct. Statement 1, "Individuals of a country to accumulate more capital" is somewhat off because human capital formation centers on enhancing human capabilities and potentials, not just individual accumulation of more capital. Statement 3 "Accumulation of tangible wealth" refers primarily to physical assets like land, buildings, machinery, etc., not to human abilities, knowledge and skills.

Therefore, the correct answer is option 3 "2 and 4 only", as these two statements best explain what human capital formation is about: enhancing people`s sundry capacities and accumulating intangible wealth.