Define ‘Human Capital’.
Define ‘Human Capital’.
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Solution and Explanation
Human capital is not machines or buildings. It sits inside a person. It is built through education, training, health care and experience.
Step 2: Write the definition:
Human capital refers to the stock of knowledge, skills and ability that a person carries within himself or herself.
This stock helps the person work better and earn more, and so adds to the productive power of the economy.
Final Answer:
Human capital is the stock of knowledge, skills and ability embodied in the owner.
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