Human capital refers to the skills, knowledge, education, training, experience, and health of individuals that contribute to their productivity in economic activities.
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Labor Market: The labor market is where individuals supply their human capital (skills) through work or employment opportunities.
Education: Education plays a crucial role in developing human capital by providing individuals with knowledge and skills needed for different professions.
Training Programs: Training programs are designed to enhance specific skills or provide additional knowledge for individuals already in the workforce.