ECONOMICS
HUMAN CAPITAL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Qualitative improvement in labour
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Quantitative improvement in labour
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Both A and b
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None of them
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Detailed explanation-1: -Human capital is called investment that brings: Quantitative improvement in labour. Qualitative improvement in labour. Both.
Detailed explanation-2: -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-3: -Human Capital includes labor and other resources that humans can provide-education, experience or unique skills-that contribute to the production process.
Detailed explanation-4: -Question – How does human capital create both private and social benefits? The two main sources of human capital formation are investment in education investment in health. By investing in both we can do human capital formation which will create both private and social benefits.
Detailed explanation-5: -Hence, expenditure on education and health are important sources of human capital formation.