When a person becomes better educated and is able to produce a better product,the person's education is an improvement in:
A)human capital.
B)physical capital.
C)land.
D)labor.

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge, skills, and abilities a person possesses that contribute to their productivity and ability to produce goods and services. Education is a key factor in developing human capital, and as a person becomes better educated, they are able to produce a higher quality product or service. Therefore, education is an improvement in human capital.

When a Person Becomes Better Educated and Is Able to Produce