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Human capital or human assets is a concept used by economists to designate personal attributes considered useful in the production process. [1] It encompasses employee knowledge, skills, know-how, good health, and education. [2] Human capital has a substantial impact on individual earnings. [3]
Social capital is "the networks of relationships among people who live and work in a particular society, enabling that society to function effectively". [1] It involves the effective functioning of social groups through interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity.
The Human Capital Index ( HCI) is an annual measurement prepared by the World Bank. [ 1] HCI measures which countries are best in mobilizing their human capital, the economic and professional potential of their citizens. The index measures how much capital each country loses through lack of education and health.
Cultural capital functions as a social relation within an economy of practices (i.e. system of exchange), and includes the accumulated cultural knowledge that confers social status and power; [ 2][ 3] thus cultural capital comprises the material and symbolic goods, without distinction, that society considers rare and worth seeking. [ 4]
The utilized amounts of the various inputs determine the quantity of output according to the relationship called the production function. There are four basic resources or factors of production: land, labour, capital and entrepreneur (or enterprise). [ 1] The factors are also frequently labeled " producer goods or services " to distinguish them ...
Human capital flight. Theoretical physicist Albert Einstein, who immigrated to the United States to escape Nazi persecution, is an example of human capital flight as a result of political change. Human capital flight is the emigration or immigration of individuals who have received advanced training at home.
Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services. Physical capital represents the tangible man-made goods that help and support the production. Inventory, cash, equipment or real estate are all examples of physical capital.
Trade. Business and economics portal. v. t. e. Human resources ( HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. [ 1][ 2] A narrower concept is human capital, the knowledge and skills which the individuals command. [ 3] Similar terms include manpower, labor, labor-power, or personnel .
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