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Question
Benefits of physical capital accrue only to private entities, whereas human capital provides private as well as ______ benefits.
Options
profitable
fiscal
social
monetary
Solution
Benefits of physical capital accrue only to private entities, whereas human capital provides private as well as social benefits.
Explanation:
Physical capital, such as machinery and plant, is only useful to businesses that are involved in the production process. But human capital, or the stock of skilled, trained, educated, and experienced labours, is an asset for society and the nation as well as individuals who purchase their services.
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