When talking about human capital using the terms of supply and demand, what is supply? Select the three correct answers.
A.
skills/talents
B.
education
C.
abilities
D.
income
E.
products
A. skills/talents, B. education, and C. abilities.
Supply in the context of human capital refers to the availability or quantity of skills, talents, education, and abilities that individuals have and are willing to contribute to the workforce. Therefore, the three correct answers for what supply represents in relation to human capital are:
A. Skills/talents: This includes the specific abilities and expertise that individuals possess, which can be valuable in the labor market.
B. Education: The knowledge and qualifications that individuals have obtained through formal education, such as degrees or certifications, contribute to their supply.
C. Abilities: This refers to the natural or acquired capabilities that individuals possess, which can be applied to various job roles and tasks.
D. Income: While income can be influenced by supply and demand dynamics, it is not considered a component of supply when specifically discussing human capital.
E. Products: The term "products" does not relate to supply in the context of human capital, as it typically refers to goods or services produced by businesses.
The correct answers for supply when talking about human capital are:
A. Skills/talents
B. Education
C. Abilities