Question

what is human capital and physical capital? ​

Answer 1

Answer:

HUMAN CAPITAL = Human capital formation is the process of transforming the people in a country into workers who are capable of producing goods and services. During this process, relatively unskilled individuals are given the tools they need to contribute to the economy.

PHYSICAL CAPITAL = Physical capital consists of tangible, man-made objects that a company buys or invests in and uses to produce goods. Physical capital items, such as manufacturing equipment, also fall into the category of fixed capital, meaning they are reusable, and not consumed during the production process.

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Answer 2

Physical capital implies the non-human assets of the company, such as plant and machinery, tools and equipment, office supplies etc. that help in the process of production. Human capital refers to stock of knowledge, talent, skills and abilities brought in by the employee, to the organization.