Question

What does 'Human capital' mean?

Answer 1

Human capital is a measure of the Economic Value of an employee's skill set. This measure builds on the basic production input of labor measure where all labor is thought to be equal. The concept of human capital recognizes that not all labor is equal and that the quality of employees can be improved by Investing in them; the education, experience and abilities of employees have economic value for employers and for the economy as a whole.

Answer 2

Human capital is the knowledge and enterprise.It is required to put together land,labour and physical capital (fixed capital and working capital) to produce output.