ECONOMICS (CBSE/UGC NET)

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: -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.

Detailed explanation-3: -You can separate human capital into three types: knowledge capital, social capital, and emotional capital.

Detailed explanation-4: -Skills, Qualifications, and Education. Work Experience. Social and Communication Skills. Habits and Personality Traits. Individual Fame and Brand Image.

Detailed explanation-5: -i. Education. Education not only raises the standard and quality of living but also encourages modern attitudes of people. ii. Health. There is a saying “The greatest wealth is health”. iii. On-the-Job Training. iv. Migration. v. Information.