BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Technological progress allows for the more efficient production of more and better goods and services, which is what prosperity depends on. Human capital is needed to master technology and improve performance so that human capital is the key to increasing economic growth.

Detailed explanation-2: -Human capital refers to the knowledge, skill sets, and experience that workers have in an economy. The skills provide economic value since a knowledgeable workforce can lead to increased productivity.

Detailed explanation-3: -Human capital allows an economy to grow. When human capital increases in areas such as science, education, and management, it leads to increases in innovation, social well-being, equality, increased productivity, improved rates of participation, all of which contribute to economic growth.

Detailed explanation-4: -Technological knowledge differs from human capital in that technological knowledge is society’s understanding of the best production methods, while human capital is the amount of understanding of these methods that has been transmitted to the labour force.