Human capital is best defined as
A) the productive skills and knowledge that workers acquire from education and training.
B) the substitution of labor for machinery in the production process.
C) any piece of machinery that must be combined with labor to be productive.
D) the exchange of money for real assets.

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge, skills, and experience possessed by an individual that are acquired through education and training. It is a type of intangible asset that allows individuals to contribute more effectively to the economy and society. Option B refers to capital-labor substitution, and C refers to capital goods. Option D refers to financial transactions such as buying assets or investments.

Human Capital Is Best Defined as