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22 October, 09:07

Human capital refers to:

A. physical capital owned by households rather than businesses.

B. the accumulated financial wealth of households.

C. the skills and knowledge that enable a worker to be productive.

D. machinery used by labor in production.

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Answers (1)
  1. 22 October, 09:28
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    C. the skills and knowledge that enable a worker to be productive.

    Explanation:

    'Human Capital' is the stock of knowledge & skills embodied in people, enabling them to perform labour of economic value. It is considered as 'capital' because skills & knowledge development to become more productive yields better income & standard of living.

    Human Capital formation i. e knowledge, skills & productivity enhancement has two crucial components : Education and Health.

    Options A, B, D are inapt because : Human Capital is not 'physical capital', 'financial wealth', 'machinery'; but is rather immaterial knowledge & skill set in people.
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Home » Business » Human capital refers to: A. physical capital owned by households rather than businesses. B. the accumulated financial wealth of households. C. the skills and knowledge that enable a worker to be productive. D. machinery used by labor in production.
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