What Is Human Capital

question 187

Multiple Choice

What is human capital?

• A)labor productivity
• B)buildings,equipment,and machinery owned by individuals rather than firms
• C)buildings,equipment,and machinery owned by firms
• D)the accumulated knowledge and skills that workers acquire from education,training,and their life experiences

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Definitions:

Productivity

A measure of the efficiency of production, often quantified as the ratio of output to inputs used in the production process.

Wage Rates

The standard amount of compensation given to employees for their services, usually expressed per hour or year.

Global Economy

The interconnected worldwide economic activities that involve the exchange of goods and services across national borders.

Poverty

is a condition where individuals lack sufficient financial resources to meet basic needs such as food, housing, and healthcare, reflecting significant inequality in access to opportunities.