Review Day 1

What is Human Capital?

• Money Assets of a Company

• Immigration of people into America

• Treating yourself to a nice dinner

• A worker's skill, knowledge, and experience

What is an example of Human Capital? Select all that apply

• On the Job training

• A company wanting to expand

• Graduating with a degree

• Losing the cash in your wallet

Which of the following is an investment in your own Human Capital? Select all that apply

• On the job training

• Getting an college degree

• Attending a workshop in your occupation

• Donating clothes to the local Goodwill

What would cause one job to pay more than another?

• The age of the individual

• The number of french fries the person can eat in a minute

• How much fun they have while they work

• The length of training, level of education, and the difficulty of the job

Brian is a mechanic. Which of the following ways can he increase his Human Capital?

• Working on multiple cars at the same time

• Asking his employer for a raise

• Attending classes to improve his skills

• Hoping for a promotion without actually in any of the work

How might your current Human Capital differ from your future Human Capital?

• Your level happiness

• How much you are currently being paid

• You have less skills and work experience

• Your boss being fired/quitting

What are goods?

• work done by someone who someone else is willing to buy

• land, labor, capital, and entrepreneurship

• physical items produced for sale

• all of these

What are services?

• physical items produced for sale

• work done by someone who someone else is willing to buy

• the quantity produced per person per hour

• all of these

What's the difference between goods and services?

• Goods are actions. Services are physical items.

• They're the same.

• Goods are physical items and services are actions.

The value of the next best alternative is called __________ cost.

• resource

• mistake

• productivity

• opportunity