The stock of knowledge, skills and talents that people possess is called ?
Correct answer: D. human capital
- A. training investment
- B. skill capital
- C. skill-building investment
- D. human capital
Explanation
Human capital is the accumulated stock of education, skills, training, knowledge and abilities embodied in people. It raises a worker’s productivity and potential earnings.
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About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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