Question

social
and
economic
problems
o
25
Describe the role of human capital in
the production process. Nome two
investments that can improve the
quality of human Capital​

Answer 1

Human capital

Explanation:

• Human capital is referred to the acquired knowledge, working skills, educational skills and competency of doing work, by the people or individuals those who works in a company , individually or togetherly to produce goods and services.

• Role of human capital in the production process is very important and valuable, because from managing and planing the production process to actually producing the actual product and services, human capital is involved.

Two ways that can help to improve the quality of human capital

Education

• Education is the very basis of creating a good quality of human capital for an economy or individual firms.

• individual firms can educate their workers about the project and work they are about to do which can help them to understand the process better and further it will help them creating a good quality of product.

• For the entire economic or social level, government can try to improve the quality of education, so that companies and firms futher have good quality of human capital.

vocational training

• Direct training for a skill which further helps people to find a job is also important. It can create an atmosphere where uneducated people also so can earn their livelihood and live a respectfull life.