What is human capital defined as?

Human capital is defined as the stock of knowledge, skills, experiences, and abilities that individuals possess, which can be utilized in the workforce to increase productivity and contribute to economic success. This concept emphasizes the importance of education and training, as individuals with higher levels of human capital can perform tasks more efficiently and creatively, leading to better job performance and innovation.

The other options focus on different aspects of an individual's economic resources. Financial resources pertain to monetary assets, while physical assets relate to tangible items owned by a person, such as property or equipment. The total number of jobs in an economy is a measure of employment opportunities but does not encompass the qualifications and competencies individuals bring to those jobs. Thus, the correct identification of human capital as knowledge and skills highlights its crucial role in both personal and economic development.