Human capital refers to the knowledge, skills, and abilities that individuals possess and can contribute to economic production. It is not physical capital owned by humans or the amount of physical capital per person in the economy. While human capital may lead to the production of capital, it is not the same thing as capital that has been produced by humans.

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Human Capital Is

Question 28

Multiple Choice

Human capital is

A) the capital, such as machinery, owned by humans.
B) the amount of physical capital per person in the economy.
C) the knowledge and skills that individual people have.
D) the capital that has been produced by humans.

Correct Answer: