Human capital enhances economic productivity from "summary" of The Economics Book by DK
Human capital refers to the knowledge, skills, experience, and attributes possessed by individuals that make them productive contributors to the economy. This concept recognizes that people are not just passive factors of production but active agents who can drive economic growth through their abilities and talents. When individuals invest in education, training, and development, they increase their human capital. This enhancement of skills and knowledge enables workers to perform tasks more efficiently and effectively, leading to higher levels of productivity. As a result, businesses can produce more goods and services with the same amount of resources, ultimately boosting economic output. Moreover, hum...
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