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key Terms:
Economy
Capital
Labor
Human capital
Human resource: the skills, talents, knowledge, and experience found in a country.
Examples: Teachers, farmers, engineers, shopkeepers, and office workers.
Human resources can be developed through training and education the development of the Human resources.
In order to develop our human resources there must be two elements:
physical capital and natural resources.
physical capital is the physical resources: like the land.
Capital is the assets that can be found to produce goods and services.
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