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What is the role of human capital in production?

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Question

What is the role of human capital in production?

Short Answer
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Solution

Human capital plays an important role in production by using people’s skills, knowledge, abilities, and expertise to improve the production process. Skilled workers help in designing, supervising, managing, and improving goods and services, which increases productivity and efficiency.

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Chapter 7: Factors of Production - Intext Questions [Page 165]

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NCERT Social Science Exploring Society India and Beyond Part 1 [English] Class 8
Chapter 7 Factors of Production
Intext Questions | Q 3. i | Page 165
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