Question

Why is human capital an essential input in production of goods and services in the village of Palampur ?

Answer 1

Explanation:

we know capital is a good which is used for the production process. Similarly human capital is a capital which is used for production of goods and services. but human capital does not like physical capital equipment. Human capital is better if the person have education, good health,skill etc. this thinks help to increase the human capital. Therefore to produce more good and services palampur needs more human capital.