ECO DEV 4.1

• human capital is also known as?

  Physical capital human resources
• plays a significant role in determining

  economic development.

  Physical capital human resources
• More _______ makes the human beings more productive through

  enhancing their skills, abilities, knowledge and better health enables them not only to participate

  in the production process but increase their capabilities to produce more.

  education
• Investment in human capital has therefore been called ________

  investment in man
• plays a

  crucial role in the ability of a country to absorb modern technology and to generate the capacity

  for self-sustained growth and development.

  Education
• is also essential for increase in productivity of

  labour and, therefore, not only raises the private incomes but also contributes to the growth of

  GDP.

  Health
• “Both _______ can also be seen as vital components

  of growth and development as inputs to the aggregate production function. Their role as both inputs

  and output gives BOTH their central importance in economic development.” ACCORDING TO?

  health and education
• is an intangible asset or quality not listed on a company's balance sheet.

  Human capital
• It can be

  classified as the economic value of a worker's experience and skills.

  Human capital
• This includes assets like

  education, training, intelligence, skills, health, and other things employers value such as loyalty

  and punctuality.

  Human capital
• The concept of _____ recognizes that not all labor is equal.

  human capital
• is typically managed by an organization's human resources (HR) department.

  Human capital
• This

  department oversees workforce acquisition, management, and optimization.

  human resources (HR) department
• Its other directives

  include workforce planning and strategy, recruitment, employee training and development, and

  reporting and analytics.

  human resources (HR) department
• is an intangible asset not listed on a company's balance sheet and includes

  things like an employee's experience and skills.

  Human capital
• Since all labor is not considered equal, employers can improve human capital by _______

  in the training, education, and benefits of their employees.

  investing
• is perceived to have a relationship with economic growth, productivity, and

  profitability.

  Human capital
• Like any other asset, _____ can depreciate through long periods of unemployment,

  and the inability to keep up with technology and innovation.

  human capital
• referred to the

  concept in his book "An Inquiry into the Nature and Causes of the Wealth of Nations,"

  Adam Smith
• suggests

  that improving human capital through training and education leads to a more profitable enterprise,

  which adds to the collective wealth of society.Its a win for everyone

  Adams
• _______

  was a signal of talent and ability. ACCORDING TO?

  human capital AND Richard Freeman
• In order for a business to really become productive, HE said it

  needed to train and motivate its employees as well as invest in capital equipment.

  Richard Freeman
• Harvard economist

  Richard Freeman
• His conclusion

  was that _______ was not a production factor. ACCORDING TO?

  human capital AND Richard Freeman,