define economic activities what were are the for mation of human capital formation
Answers
Answer:
G.M. Meier defines Human Capital Formation as “human capital formation is the process of acquiring and increasing the number of persons who have education and experience which is essential for the economic and political development of a country”.
Answer:
The term human capital refers to the economic value of a worker's experience and skills. Human capital includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality. As such, it is an intangible asset or quality that isn't (and can't be) listed on a company's balance sheet. Human capital is perceived to increase productivity and thus profitability. The more investment a company makes in its employees, the chances of its productivity and success becomes higher.
KEY TAKEAWAYS
Human capital is an intangible asset not listed on a company's balance sheet.
Human capital is said to include qualities like an employee's experience and skills.
Since all labor is not considered equal, employers can improve human capital by investing in the training, education, and benefits of their employees.
Human capital is perceived to have a relationship with economic growth, productivity, and profitability.
Like any other asset, human capital has the ability to depreciate through long periods of unemployment, and the inability to keep up with technology and innovation.