When a person becomes better educated and is able to produce a better product,the person's education is an improvement in:
A) human capital.
B) physical capital.
C) land.
D) labour.

Question

Quizplus · Accepted Answer

Human capital refers to the knowledge, skills, and abilities that a person possesses and can use to produce goods or services. Education is a form of human capital investment that can enhance a person's productivity and enable them to produce higher-quality goods or services. Therefore, when a person becomes better educated, it is an improvement in human capital.

When a Person Becomes Better Educated and Is Able to Produce