Human Capital Is the

question 44

Multiple Choice

Human capital is the

• A)knowledge and skills that workers acquire through education,training,and experience.
• B)stock of equipment and structures that is used to produce goods and services.
• C)total number of hours worked in an economy.
• D)same thing as technological knowledge.

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Definitions:

Setup Cost

Refers to the expenses incurred to prepare equipment or processes for manufacturing an order.

Inventory Holding Cost

Refers to the total cost associated with storing unsold goods, including expenses such as warehousing, depreciation, spoilage, and insurance.