Human Capital

Definition

Human capital refers to the skills, knowledge, education, training, experience, and health of individuals that contribute to their productivity in economic activities.

Related terms

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.