What is meant by the term human capital?
A)The sum of all assets owned by people.
B)The accumulated skills and knowledge of human beings.
C)The average age of those engaged in formal education.
D)The amount of physical capital that each worker has to work with.

Question

Quizplus · Accepted Answer

Human capital refers to the skills, knowledge, and abilities of human beings. It includes their education, experience, and training, as well as their inherent talents and abilities. Human capital is an important factor in economic growth and development, as it enables people to work more efficiently and effectively, and to create and innovate. It is distinct from physical capital, which refers to the tools, machinery, and other equipment that workers use to produce goods and services.

What Is Meant by the Term Human Capital