Human capital is the skills, knowledge, and experience that people obtain through education, training, and work experience. It is different from physical capital (such as equipment and tools) in that it is not tangible, but is instead represented by the abilities and expertise of workers.

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Human Capital

Question 50

Multiple Choice

Human capital:

A) refers to workers who do highly repetitive work, which requires little thought and creativity.
B) is the equipment, tools, and computers that make workers more productive.
C) is the skills, knowledge, and experience that people obtain.
D) refers to a worker in a capital intensive industry.

Correct Answer: