What does human capital refers to

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human capital: The set of skills which an employee acquires on the job, through training and experience, and which increase that employee's value in the marketplace. In Economics, What Does "Capital" Refer To - Answered by a verified Tutor We use cookies to give you the best possible experience on our website. By continuing to use this site you consent to the use of cookies on your device as described in our cookie policy unless you have disabled them.
 

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How do people invest in human capital. By getting an education/training and having experience. Relationship between education and income. More education = more income. Human capital is the term economists use to refer to the skills and knowledge held by a group of individuals, which can be an asset or a liability for... See full answer below. Become a Study.com member to unlock this answer! Create your account.
 

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Managing human resources refers to the functions that a manager performs relative to the organization's employees. Managing Human Resources can also refer to the act of providing the management actions the employees of the Human Resource Department human capital: The set of skills which an employee acquires on the job, through training and experience, and which increase that employee's value in the marketplace.

Human capital refers to the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labour so as to produce economic value. Alternatively, human capital is a collection of resources—all the knowledge, talents, skills, abilities, experience, intelligence, training, judgment,... In this view, human capital is similar to " physical means of production ", e.g., factories and machines: one can invest in human capital (via education, training, medical treatment) and one's outputs depend partly on the rate of return on the human capital one owns. Thus, human capital is a means of production,...

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Specific human capital refers to knowledge and skills that few find useful and are willing to pay for. For example, knowing how to operate a proprietary machine that is owned and operated by Company XYZ might be a skill that only Company XYZ is willing to pay for.