What term describes the knowledge, skills, and abilities of a firm's workers that contribute to economic value?

The term that best describes the knowledge, skills, and abilities of a firm's workers that contribute to economic value is "Human Capital." This concept emphasizes the intrinsic value that employees bring to an organization through their competencies and expertise. Human capital is essential for driving productivity and innovation, as it represents the aggregate skills and experiences that employees acquire through education, training, and work experience.

Investing in human capital—through training, development, and creating a supportive work environment—can significantly enhance a company's competitive advantage. Organizations that recognize the importance of human capital are better positioned to adapt to changes in their industry and to achieve long-term financial success.

In contrast, while "Human Resources" refers to the department managing personnel and related activities, it does not specifically encapsulate the concept of the skills and knowledge possessed by employees. "Intellectual Capital" is a broader term that can include intangible assets like patents and proprietary knowledge, rather than focusing solely on employee skills. "Operational Capital" pertains more to the financial and physical assets used in business operations, which is unrelated to the abilities of the workforce. This distinction highlights why "Human Capital" is the most accurate term in this context.