Like physical capital, human capital is a produced factor of production.

Question

Quizplus · Accepted Answer

Human capital refers to the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country. Similar to physical capital, such as machinery or buildings, which is produced and accumulated over time, human capital is developed through education, training, and experience, making it a produced factor of production.

Like Physical Capital, Human Capital Is a Produced Factor of Production