What is the difference between labour and human capital
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Answer:
Human capital is a term that refers to the people or the workforce who are available for various jobs. Labor is the work that the people do. ... Labor involves both physical as well as mental work. “Human capital” also refers to the knowledge, competence, and ability of people to perform labor.
1.“Human capital” is a term that refers to the people or the workforce who are available for various jobs. “Labor” is the work that people do.
2.“Human capital” refers to the knowledge, competence, and the ability of people to perform labor.
3.The success of a business depends on the human capital and, as such, all business firms invest in human capital for grooming good laborers.
4.In labor, the efficiency and skills differ from one person to another. Most of the time, the labor force just does the work that has been assigned to them.
5.Labor can be said to be the aggregate of all mental and physical effort which is used for the creation of services and goods.
6.Labor is an active factor connected with production whereas factors like capital and other things are only passive.