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what are the differences between physical capital and human capital???
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what are the differences between physical capital and human capital???
Differences between Physical Capital and Human Capital
Physical Capital
- Physical capital refers to the tangible assets owned by a business or an individual.
- It includes equipment, machinery, buildings, land, and other physical assets.
- Physical capital is used to produce goods and services.
- It can be depreciated over time and has a limited lifespan.
- Physical capital can be bought, sold, and traded in the market.
- It is subject to wear and tear and requires maintenance and repair.
Human Capital
- Human capital refers to the skills, knowledge, and abilities possessed by an individual.
- It is the result of education, training, and experience.
- Human capital can be improved through investment in education and training.
- It is not a physical asset and cannot be depreciated.
- Human capital is transferable and can be used in different industries and occupations.
- It is subject to obsolescence and requires continuous development and updating.
Differences
- Physical capital is a tangible asset, while human capital is intangible.
- Physical capital has a limited lifespan and can be depreciated, while human capital does not depreciate and can be improved through investment.
- Physical capital can be bought and sold in the market, while human capital cannot be traded as a commodity.
- Physical capital requires maintenance and repair, while human capital requires continuous development and updating.
- Physical capital is subject to wear and tear, while human capital is subject to obsolescence.
Importance of Physical and Human Capital
- Physical capital is important for businesses as it enables them to produce goods and services efficiently.
- Human capital is important for businesses as it enables them to innovate, adapt, and compete in a rapidly changing environment.
- Both physical and human capital are essential for economic growth and development.
- Investment in physical and human capital is necessary to improve productivity, increase income, and reduce poverty.
Community Answer
what are the differences between physical capital and human capital???
Physical Capital(i) It increases physical goods.(ii) It is a economic and technical process. (iii) Physical capital is tangible. (iv) It can be sold in the market. (v) The physical capital is separable from its owner. (vi) Physical capital formation can be built even through imports. Human Capital (i) It increases knowledge and efficiency. (ii) It is partly a social process. (iii) Human capital is intangible. (iv) It can't be sold in the market. (v) Human capital is not separable from its owner. (vi) Human capital formation is to be done through conscious policy formulations...## OK IS THIS DIFFERENCE BETWEEN PC. AND HC OKKK..
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what are the differences between physical capital and human capital??? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about what are the differences between physical capital and human capital??? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what are the differences between physical capital and human capital???.
what are the differences between physical capital and human capital??? for Class 9 2024 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about what are the differences between physical capital and human capital??? covers all topics & solutions for Class 9 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for what are the differences between physical capital and human capital???.
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