The term human capital refers to the economic value of a workers experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.
What is human capital Class 9?
People as Resource Class 9 Important Questions Very Short Answer Type Questions. What is human capital? Answer: Human capital is the stock of skilled and productive work force of a nation.
What is human capital Class 11?
Human Capital It refers to the stock of skill, ability, expertise, education and knowledge in a nation at a point of time. Physical Capital All inputs which are required for further production such as machine, tools and implements, factory buildings, etc are called physical capital.
What are the types of labour?
Kinds of Labour:Physical and Mental Labour.Skilled and Unskilled Labour. ADVERTISEMENTS:Productive and Unproductive Labour.
What is the important of capital?
In economics, capital refers to the assets–physical tools, plants, and equipment–that allow for increased work productivity. By increasing productivity through improved capital equipment, more goods can be produced and the standard of living can rise.
What is the role of capital?
Capital, the produced means of production, is indispensable for the creation of wealth. Capital is essential if a country is to produce the huge quantity of various goods and services necessary for consumption today. It, indeed, plays a very important role in production.