What best defines human capital?
A) the knowledge and skills that workers acquire through education, training, and experience
B) the stock of equipment and structures that is used to produce goods and services
C) the total number of workers in the labour force
D) the total amount that is paid in wages in an economy

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge and skills that workers acquire through education, training, and experience. It is an intangible asset that forms a significant part of a country's wealth and productivity. Therefore, option A is the best choice as it defines human capital accurately. Options B, C, and D are incorrect because they refer to physical capital, labour force, and wages paid, respectively.

What Best Defines Human Capital