ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What Is Human Capital? The term human capital refers to the economic value of a worker’s experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.

Detailed explanation-2: -What is human capital and why does it matter? Human capital consists of the knowledge, skills, and health that people invest in and accumulate throughout their lives, enabling them to realize their potential as productive members of society.

Detailed explanation-3: -Human capital refers to the skills, knowledge, and abilities that workers possess and that contribute to their economic value. This includes both formal education and training as well as on-the-job experience.

Detailed explanation-4: -Human capital theory emphasises how education increases the. productivity and efficiency of workers by increasing the level of cognitive stock. of economically productive human capability, which is a product of innate. abilities and investment in human beings.