This Question: 7 pts 6 of 16 (5 comp that people obtain from education, on-the-j

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This Question: 7 pts 6 of 16 (5 comp that people obtain from education, on-the-job training, and work experience that have been produced in the past and that businesses now use to produce goods and services is capital. Human capital O A. is the knowledge and skill; O B. are productive resources O C. are goods and services, O D. are inputs Tools, instruments, machines, buildings, and other items Inputs and outputs Inputs Natural resources and other goods Click to select your answer 0 Type here to search

Explanation / Answer

Answer: A

Human capital is the labor resource which comes out of knowledge and skill of a person. On the other hand, all sorts of long-term assets give benefits in the short-run and long-run for producing goods and services; therefore, these are termed as capital.

Example: If we consider a garment factory, workers in the fabrication department are human capital; they use their skills and knowledge for turning raw leather into a leather garment. Stitching machines that are used for making final product are capital.

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