Labor, human capital, and entrepreneurship are resources related to human beings. Distinguish among the three resources.

What will be an ideal response?


Labor is the work done by human beings. Human capital refers to the worker education and training that makes human beings more productive. Whenever a worker’s skills increase, there has been an improvement of human capital. Entrepreneurship refers to the use of human beings in organizing, managing, and assembling the other factors of production to make business ventures.