ECONOMICS
HUMAN CAPITAL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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abilities, skills, and education that helps to make a worker more valuable and more productive for the company or organization
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purchasing goods and services to satisfy wants and needs
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Either A or B
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None of the above
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Detailed explanation-1: -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. Recruitment is the process of finding and hiring qualified candidates for open positions.
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 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. The concept of human capital is the realization that not everyone has the same skill sets or knowledge.
Detailed explanation-4: -The role of education in human capital formation are as follows: An educated society facilitate better development program than an illiterate one. Education improves productivity and prosperity, and also improve enriched life experience.