Human capital represents

Question

Quizplus · Accepted Answer

Human capital represents the education, skills, and training embodied in workers, which contributes to their productivity and earning potential. It is not equipment used by labor (A), nor is it a direct measurement of output-per-worker (B). While human capital may contribute to the development of new technologies embodied in equipment (D), the equipment itself is not considered human capital. Additionally, while social institutions may play a role in promoting the accumulation of capital (E), human capital specifically pertains to the knowledge and skills of individual workers.

Human Capital Represents