Human Capital Development
Economics S.S.S 3 First Term
WEEK 3
Human Capital Development
Performance Objectives
Student should be able to:
- Define human capital.
- Explain the factors affecting the efficiency of human capital
- Distinguish clearly between human and physical capital
- Define brain drain.
Content
Definition of Human Capital
Human capital is the stock of habits, knowledge, social and personality attributes embodied in the ability to perform labour to produce economic value. Alternatively, it refers to the value that is added onto a company by an employee’s skill and competencies.
Human capital is an important factor of production, and employing individuals with the right education, experience, skills and training can improve efficiency, productivity and profitability. Companies can invest in their human capital by offering training and education facilities to its.... View More
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