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Answer :
Final answer:
Human capital refers to the skills, knowledge, education, and health of workers. The higher the average level of education in an economy, the higher the accumulated human capital and labor productivity.
Explanation:
Human capital refers to the information, skills, knowledge, education, and health of workers. It is the accumulated knowledge, skills, and expertise possessed by the average worker in an economy. The higher the average level of education in an economy, the higher the accumulated human capital and the higher the labor productivity. For example, when children receive nutrition supplements during childhood, they become more productive as adults, earning higher wages due to the investment in their health—their human capital.
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