Choose if the given statement is True/False.

Physical capital is superior to human capital.

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True

False

answer is B.

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Detailed Solution

The above statement is False.
Physical capital is a term used to refer to the goods that aid in the production process. Cash, land, and machines are a few examples of physical capital. Human capital is the stock of the employee's knowledge, talent, skills, and abilities. It can be said that human capital is superior to physical capital as it is humans that use land and capital and not the other way around, which makes the above statement False. If we invest in a country's population, it can yield a huge return in the form of increased national income.
The correct statement would be Physical capital is superior to the production process.

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