Diffeerences between physical resources and human resources
Answers
Explanation:
Differences between physical capital and human capital.
Physical Capital Human capital
1. Any non-human asset made by humans and then used in production
it is known as physical capital. 1. When the existing 'human resource' is further developed by becoming more educated and healthy we call it human capital formation that adds to the productive power of the country.
2. It is tangible and can be sold in the market, e.g., goods like a bus or a machine. 2. It is not tangible and cannot be sold in the market because it is naturally built in the mind and body of its owner, only the services of human capital can be sold.
3. Physical capital is separable from its owner. 3. Human capital is inseparable from its owner.
4. Physical capital benefits only the owner. 4. Human capital benefits not only the owner but the society in general.
5. Physical capital is inferior to human capital. 5. Human capital is superior to other resources like land and physical capital.
6. Physical capital cannot become useful on its own. 6. Human capital can make use of physical capital.
Explanation:
The difference between human resources and physical resources are as follows. ... while physical resources cannot make use of their own. 3) Human resources have the knowledge, skill, adequate technology and developed mind to make the maximum utilization of the resources. While physical resources do not have this quality.