Question

In what way is human capital is superior to other resources like physical capital ?How a large production is turned into a productive assets? Explain.​

Answer 1

Answer: first we have to know that what is human capital.

Human capital human capital means the capital which can be satisfy the needs of any person by their effort and knowledge skills. Human capital can made the many type of capital letters human capital can made a fixed capital and working capital and many more. Human capital can we produce the fixed capital and their capitals but the physical capital can't be produced the human capital so human capital play a very important role in the formation of the country as a powerful country E and in the field of production

Explanation: I hope you like my answer......

Answer 2

Correct Question :-

In what way is human capital is superior to other resources like physical capital? How a large population is turned into a productive assets? Explain.​

Answer :-

For production, we need four resources :- land, labour, physical capital and human capital. Out of these four, human capital is superior to other resources. We know that human capital consists of intangible things like knowledge and skills. Without knowledge and skills, none of the other uses can be utilised for production. Alone raw materials or money can not produce goods. We need someone who knows how to make products. We need knowledge for production, which is provided by human capital only. Hence, human capital is superior to other resources.

How can a large population be turned into a productive asset?

As we discussed above, knowledge and skills are required for production. This further means that the human should be educated and knowledgeable in order to produce goods. Hence, education is helpful to turn large population into a productive asset. Training should be provided to the population to enhance their skills.

Not only education, but health is also required to make a large population turn into asset. This is quite obvious that an unhealthy population would not be able to utilise his skill as much as he could being healthy. Hence, health is another aspect which can make population into asset.

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