The concept of physical capital is the base for conceptualising ________.
Which of the following option suits best in the above blank?
Answer & explanation
Correct answer: option 1
The correct answer is option 1: Human capital
The concept of physical capital is the base for conceptualising human capital.
Human capital refers to the productive capabilities of individuals, which are developed through education, training, and experience. Physical capital, such as machinery and equipment, is essential for enhancing human productivity and creating value.