Human capital considers education and health as critical factors that increase labor productivity, whereas human development considers that they are necessary for human well - being.
Which of the following options is true in regards to the above statement?
Which of the following options is true in regards to the above statement?
Answer & explanation
Correct answer: option 1
Human capital refers to skilled and abled persons that take part in the productive process. Human development, however, is a broad term that refers to overall human well-being.