ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Human capital is the stock of ‘skill and expertise’ of a nation at a point of time.

Detailed explanation-2: -Hence, the stock of skill, ability, education and knowledge of people in a nation, at a point of time, refers to human capital.

Detailed explanation-3: -Human Capital refers to the stock of skill, ability, expertise, education and knowledge in a nation at a point of time.

Detailed explanation-4: -Education improves productivity and prosperity, and also improve enriched life experience. It does not only contribute towards the growth of the people but also the development of society as a whole. Education increases national income and other cultural richness.

Detailed explanation-5: -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.