Social Sciences, asked by 10nishitah, 3 months ago

which capital would you consider the best -land and physical capital or human capital support your answer

Answers

Answered by Abhijeetroy

Explanation:

Human capital is the most important factor of production because of the following reasons:

(i) Gifted with life and reasoning power, humans can make use of the land, labour and physical capital. Man's knowledge and enterprise put together with land, labour and physical capital can produce output for personal use or to sell in the market.

(ii) Investment in human capital yields a return just like investment in physical capital. A country with a more young, healthy and skilled population is more productive, such as Japan.

(iii) Human capital is essential, as physical capital cannot produce goods and services on its own, but requires human capital to coordinate all inputs to produce the desired goods and services

Answered by Anonymous

Answer:

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