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: -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-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 (HC) plays a key role in knowledge since it adds value to the knowledge and competences of the organization’s people, and the capacity to generate them is useful to achieve the organization’s mission [5, 6].

Detailed explanation-5: -Human capital represents the contributions made to an organization by its employees utilizing their talents, skills, and expertise. Possessed only by individuals. human capital can be harnessed and exploited by an organization. It is not owned outright. Human capital can disappear when an employee leaves.