ECONOMICS
PRICE CEILINGS AND FLOORS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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labor productivity
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derived demand
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human capital
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income capital
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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: -Your human capital is the set of skills that you have acquired on the job, through training and experience, and which increase your value in the marketplace.
Detailed explanation-3: -Work experience contributes 40 to 60 percent of a worker’s human capital. By our estimates, the value of human capital represents roughly two-thirds of an individual’s total wealth. Skills acquired or deployed through work experience contribute an average of 46 percent of this value over a typical working life.
Detailed explanation-4: -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-5: -Skills, Qualifications, and Education. Work Experience. Social and Communication Skills. Habits and Personality Traits. Individual Fame and Brand Image.