Human capital refers to the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.
Education: The process of receiving systematic instruction, especially at a school or university. This is like downloading new apps on your phone - you're adding new skills.
Work Experience: The familiarity with tasks and responsibilities gained from practical activities performed in certain jobs. It's akin to updating your apps - you're improving what you already have.
Productivity: A measure of efficiency of a person completing a task. It's like how fast your phone operates without glitches - it shows how well everything works together.
Study guides for the entire semester
200k practice questions
Glossary of 50k key terms - memorize important vocab
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.