How is human resource different from other resources like land and physicalcapital?

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asked Jan 13, 2018 in Economics by Ankit Agarwal (28,847 points) 7 31 67

How is human resource different from other resources like land and physical capital?

1 Answer

0 votes
answered Jan 13, 2018 by Ankit Agarwal (28,847 points) 7 31 67
 
Best answer

Human resource is different from other resources in many senses. Human resources need education, training and healthcare to develop. On the other hand, land and physical capital need money and physical inputs to develop. Land and physical capital are useless without human resources.

Human resource makes use of other resources like land and physical capital to produce an output. The other resources cannot become useful on their own. This is the reason why human resource is considered to be superior to the other resources.

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