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Vocational Education

Capital, in the economic sense, is any physical or abstract entity with productive capability. Vocational skills are a form of human capital in that the productive capability to perform a particular job resides in an individual who has gained the necessary skills and knowledge. Vocational education is formal training in the skills required to perform a specific trade or vocation. Broadly defined, vocational education takes different forms: accredited programs provided by high schools or institutions of higher education, apprenticeship, or on-the-job training. In contrast, academic education encompasses more intellectual and less applied learning. The humanities and pure sciences are leading examples of academic education, whereas trade schools and career academies typify vocational education. In practice, however, there is considerable overlap between the two domains. ...

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