Economics: People as Resource · Class 9 · CBSE Social Science
How does human capital differ from physical capital like machines and buildings?
Practice question from Economics: People as Resource (Class 9 · CBSE Social Science), with the correct answer and a step-by-step solution.
medium · MCQ · Q-4B3B05
How does human capital differ from physical capital like machines and buildings?
- A.Human capital cannot be measured in monetary terms.
- B.Human capital requires education and health investments, whereas physical capital does not.
- C.Human capital is superior to and can make use of land and physical capital.Correct answer
- D.Physical capital is intangible while human capital is tangible.
Solution
Human capital is considered superior because human beings are the ones who combine land and physical capital to produce output; physical capital cannot become productive on its own.
More from Economics: People as Resource
- Which of the following activities is an example of the tertiary sector?
- What is the primary difference between market activities and non-market activities?
- Which of the following age groups constitutes the workforce population of a country according to standard economic studies in this chapter?
- Which sector experiences the problem of seasonal unemployment predominantly in rural areas?
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