Asked by Daisy Cheng on Jul 20, 2024
Verified
(Consider This) The story about artist Pablo Picasso illustrates the point that:
A) the demand for labor is a derived demand.
B) geographical immobility impedes an efficient allocation of labor resources.
C) principal-agent problems can occur in unusual settings.
D) present skills reflect past accumulations of human capital.
Pablo Picasso
A Spanish painter, sculptor, printmaker, ceramicist, and stage designer considered one of the greatest and most influential artists of the 20th century.
Human Capital
The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.
- Understand the principle of human capital and how it is developed via education and training.
Verified Answer
RG
Ramson GeorgeJul 20, 2024
Final Answer :
D
Explanation :
The story about Picasso demonstrates the concept of human capital, which refers to the skills, knowledge and experience that a person accumulates over time. Picasso's early exposure to art influenced the development of his skills and style later in life. This highlights how present skills reflect past accumulations of human capital.
Learning Objectives
- Understand the principle of human capital and how it is developed via education and training.