Question

What is the main difference between ‘Human Capital’ and ‘Human Capital Formation’?

Answer 1

Explanation:

Human capital can include qualities like: Education. Technical or on-the-job training. There are two kinds of human capital: general and specific. General: this refers to knowledge and skills that several different employers find useful. Examples include expertise in accountancy, marketing, or personnel management. Specific: skills that only one employer might be interested in.. Mental and emotional well-being.

Meier defines Human Capital Formation as “human capital formation is the process of acquiring and increasing the number of persons who have education and experience which is essential for the economic and political development of a country”. ...