what is the main difference between human capital and human capital formation
Answers
Answer:
1.Human capital is referred to as the measure of the capabilities of labor which includes skills, working capacity, education, health and intelligence.
The concept of human capital focuses on the point that not all resources are equal, but with proper training and investment that gap can be fulfilled.
2.Human development is referred to as the process of expansion of the capabilities of humans in terms of abilities, rights.
The purpose of human development is to provide an appropriate environment for the people to enjoy a healthy, creative and long life.
Answer:
HUMAN CAPITAL:-
(i)The people of a country are known as Human capital.
(ii) It may or may not contribute significantly to the economy of the nation.
HUMAN CAPITAL FORMATION:-
(i) Healthy and educated human population is known as Human capital formation.
(ii) It contributes significantly to the economy of the nation.