ECONOMICS
PRODUCTIVE RESOURCES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Goods not created for their own use, but to make other goods/services.
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The natural resources used to produce goods or services.
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Person who organizes the factors of production to produce goods/services; business owners.
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Skills, talents, abilities of a worker.
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Detailed explanation-1: -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: -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-3: -Human capital-defined as the “stock of economically productive human capabilities”81-encompasses knowledge, health, skills, entrepreneurial talent, determination and other human traits that lead to success in endeavors. These capabilities are formed by combining innate abilities with investment in human beings.
Detailed explanation-4: -Human capital refers to the stock of skill, ability, expertise, education, and knowledge in a nation at a point of time.
Detailed explanation-5: -Human capital is the economic value of employees’ skills and talents, knowledge and personal qualities. These skills are intangible assets that employees contribute to the organization to make it more productive.