What is meant by 'People as Resource'? Explain how is human
Human resource is different from other resources in many senses. Human resources need education, training and healthcare to develop. On the other hand, land and physical capital need money and physical inputs to develop. Land and physical …
How is human resource different from other resources like land
Human resource is different from other resources like land and physical capital in the following ways: (i) From the perspective of economic development, human resource exhibit multiple importance i.e. human resource act as both producers as well as consumers.
How is human capital or resource different from other resources
Human resource is different from other resources in many senses. Human resources need education, training and healthcare to develop. On the other hand, land and physical capital need money and physical inputs to develop. Land and physical …
What is meant by physical capital? Give examples. What are the
Physical capital includes the variety of inputs required at every stage during production such as (a) Tools, Machines, Buildings. Tools and machines range from very simple tools such as a farmer's plough to sophisticated machines such as generators, turbines, computers, etc. (b) Raw Materials and Money in Hand.
Which capital would you consider the best - land, physical ... - Toppr
Among land, physical capital and human capital, the human capital is the best because human capital can make use of land, labour and physical capital. Land and capital cannot become useful on its own. Human capital is only the human resource that utilises other resources like land and investments which cannot become beneficial on their own.
Sources of Human Capital - Toppr
The human capital formation is eyeing at the conversion of human resource into human assets. Physical Capital: For development and enhancement of physical assets such as buildings, bridges, factories etc. all the inputs like tools, machinery, gadgets which are required are called Physical Capital.
Distinguish between physical capital and human capital. - Toppr
Human capital is inseparable from its owner. 4. Physical capital benefits only the owner. 4. Human capital benefits not only the owner but the society in general. 5. Physical capital is inferior to human capital. 5. Human capital is superior to other resources like land and physical capital. 6. Physical capital cannot become useful on its own.
Factors of Production: Land, Labour, Capital, Entrepreneur - Toppr
Capital. Capital refers to all manmade resources used in the production process. It is a produced factor of production. It includes factories, machinery, tools, equipment, raw materials, wealth etc. The payment for capital is interest. Characteristics. Capital is a manmade factor of production. It is mobile. It is a passive factor of production.
What are the features of physical capital? - Toppr
The ownership of physical capital is the outcome of the conscious decision of the owner — the physical capital formation is mainly an economic and technical process. It is tangible and the owner of physical capital need not be present for its use.
Which of the following is not true about physical capital? - Toppr
Statement B is incorrect. Physical capital does not require presence of owner, its tangible and is completely mobile. Physical capital refers to factors of production. Human capital has both social and private benefits and not physical capital.