ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Human capital is an intangible asset not listed on a company’s balance sheet. Human capital is said to include qualities like an employee’s experience and skills.

Detailed explanation-2: -Human capital is not perfectly mobile between countries as movement is restricted by nationality and culture. It is intangible, it cannot be sold in the market only the services of human capital are sold and hence the necessity of the owner of the human capital to be present in the place of production.

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: -Key Takeaways Human capital the intangible economic value of a worker’s experience and skills. This includes factors like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.

Detailed explanation-5: -Key Takeaways In economic theory, physical capital is one of the three factors of production. Physical capital consists of tangible, human-made objects that a company buys or invests in and uses to produce goods.