Distinguish between human capital and physical capital.
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Solution and Explanation
| Human Capital | Physical Capital |
|---|---|
| It refers to the stock of skills, knowledge, and abilities possessed by individuals. | It refers to man-made goods used for further production like machinery, tools, and buildings. |
| Increases productivity by improving human efficiency. | Increases productivity by providing means of production. |
| Intangible in nature. | Tangible in nature. |
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