Explain any three diffrence between physical and human capital
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The differences between physical capital and human capital are outlined below:
1)Physical Capital, is used to mean, the company’s non-human assets like plant and machinery, building, computers, office supplies etc. that assist in the production of goods and services. On the contrary, human capital is defined by collection of knowledge, talent, skills and abilities possessed by an employee or a group of employees working in an organization.
2)Physical capital is tangible in nature, i.e. it can be seen and touched. Unlike human capital is intangible, that can only be experienced.
3)The creation of physical capital is an economic and technical process. Conversely, the formation of human capital is a social process, but it is also a result of conscious decisions taken by the entrepreneur in this regard.
1)Physical Capital, is used to mean, the company’s non-human assets like plant and machinery, building, computers, office supplies etc. that assist in the production of goods and services. On the contrary, human capital is defined by collection of knowledge, talent, skills and abilities possessed by an employee or a group of employees working in an organization.
2)Physical capital is tangible in nature, i.e. it can be seen and touched. Unlike human capital is intangible, that can only be experienced.
3)The creation of physical capital is an economic and technical process. Conversely, the formation of human capital is a social process, but it is also a result of conscious decisions taken by the entrepreneur in this regard.
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