Question

Differentiate between
a) Physical capital and human capital
b) Human development and human capital​

Answer 1

Answer:

physical capital :- it includes all those resources which helps in further production

- it is used to produce goods/services

- it can be sold in market

- it can be seprated from its principal

human capital :- it means stock of skills and expertise, knowledge and education available at nation at a point of time

- it increases efficiency in production

- it's services can be sold in market

- it cannot be seprated from its principle

.

Answer 2

Physical capital implies the non-human assets of the company, such as plant and machinery, tools and equipment, office supplies etc. that help in the process of production. Human capital refers to stock of knowledge, talent, skills and abilities brought in by the employee, to the organization.

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