ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Human capital allows an economy to grow. When human capital increases in areas such as science, education, and management, it leads to increases in innovation, social well-being, equality, increased productivity, improved rates of participation, all of which contribute to economic growth.

Detailed explanation-3: -Human capital refers to the knowledge, skill sets, and experience that workers have in an economy. The skills provide economic value since a knowledgeable workforce can lead to increased productivity.

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