Which capital would you consider the best — land, labour, physical capital and human capital? Why?
Answers
Answer:
Human capital can be considered to be the best out of the land, labour, physical and human capital. This is because the other resources cannot be used all by themselves, and only humans can use other resources and get productive outcomes from it.
Answer:
There has been a substantial reduction in global poverty. Poverty declined in China and South-East Asian countries as a result of rapid economic growth and huge investments in the development of human resources. In Latin America, the ratio of poverty remained almost the same. In sub-Saharan Africa, poverty saw an upward trend rather than a downward trend. It rose from 41% in 1981 to 46% in 2001. Poverty has surfaced itself in some of the former socialist countries like Russia, where formerly it was non-existent.
Explanation: