ul. Define human capital.
mer Type Questions
Q2. When does population become human capital
03. How is human capital superior to land and physical
0.4. Classify human activities.
Q.5. What is the other name of economic activities
Q. 6. How does education help people?
0.7. Name any two determinants of the earning of any individu
0.8. Which type of population is a liability for an economy
Q.9. What do you mean by Infant Mortality Rate?
Q.10. What is workforce population?
Answers
Answer:
Human capital is a loose term that refers to knowledge, experience and skills of an employee. The theory of human capital is relatively new in finance and economics. It states that companies have an incentive to seek productive human capital and to add to the human capital of their existing employees.
Population becomes human capital when there is investment made in the form of education, training and medical care. In fact, human capital is the stock of skill and productive knowledge embodied in them.
Human Capital is in one way superior to other resources like land and physical capital: human resource can make use of land and capital but otherwise land and capital cannot become useful on its own.
Human activities can be classified as Economic and Non-Economic Activities.
An economic activity involves the production, distribution and consumption of all goods and services.
A non economic activity in done with no intention of earning a profit or any money.
All professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving, and investment are variable components in the economy that determine macroeconomic equilibrium. There are three main sectors of economic activity: primary, secondary, and tertiary.
Those who get an education have higher incomes, have more opportunities in their lives, and tend to be healthier. Societies benefit as well. Societies with high rates of education completion have lower crime, better overall health, and civic involvement. Lack of access to education is considered the root of poverty.
Education and skill are the major determinants of the earnings of any individual in the market.
The type of population that is a liability for the economy is the Unhealthy people. The unhealthy people prove to be a burden for the country. Because for the progress of a country, we need good human capital, and the unhealthy people do not give any output, but use all the resources.
Infant mortality is the death of an infant before his or her first birthday. The infant mortality rate is the number of infant deaths for every 1,000 live births. ... In 2018, the infant mortality rate in the United States was 5.7 deaths per 1,000 live births.
Labour force participation rate is defined as the section of working population in the age group of 16-64 in the economy currently employed or seeking employment. ... At the time of recession, it is generally seen that the labour force participation rate goes down.
- Population becomes human capital when there is investment made in the form of education, training and medical care.