easy definition of physical capital and human capital
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Physical capital. ... In economic theory,physical capital is one of the three primary factors of production, also known as inputs in the production function. The others are natural resources (including land), and labor—the stock of competences embodied in the labor force.
Human capital...the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community: Education is an investment in human capital that pays off in terms of higher productivity.
Human capital...the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community: Education is an investment in human capital that pays off in terms of higher productivity.
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thing involved all like transport, machinry etc are physical capital
knowladge ,attribute etc are called human capital
knowladge ,attribute etc are called human capital
ishant1015:
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