Human capital:
A) consists of man-made resources such as buildings and machines.
B) is the improvement in labour produced by education and knowledge that is embodied in the workforce.
C) has become less important because of the progress in technology.
D) is the improvement in labour produced by education,which has become less important because of the progress in technology.

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge, skills, and abilities embodied in the workforce, which result from education and training. It is considered an important factor in economic growth and development. While technology has changed the nature of work, human capital remains crucial for success in the modern economy. A is incorrect as man-made resources like buildings and machines are considered physical capital. C and D are incorrect as progress in technology has not made human capital less important.

Human Capital