ECONOMICS CHAPTER-2
CLASS-9
PEOPLE AS RESOURCE
Question-1What do you
understand by ‘people as a resource’?
Solution:‘People as
Resource’ is a way of referring to a country’s working people in terms of their
existing productive skills and abilities. Human resource is an asset for the
economy rather than a liability. Population becomes human capital when there is
investment made in the form of education, training and medical care. In fact,
human capital is the stock of skill and productive knowledge embodied in them.
Question-2How is human
resource different from other resources like land and physical capital?
Solution:Human
resource is different in the following ways:
1.Land and other resources are fixed, limited and specified
whereas human resources can be nurtured through education and health.
2.Human resources can bring a change in other resources whereas
other resources can not change or affect human resource.
3.Human resource can make use of land and physical capital whereas
land and physical capital can not become useful on its own.
Question-3What is the role of
education in human capital formation?
Solution:Educated people
find jobs in private firms while the uneducated people continue with the same
work as their parents. It is a known fact that with investments made on
education and health; one can yield a high return in the future in the form of
higher earnings and greater contribution to society.
Question-4What is the role of
health in human capital formation?
Solution:The role of
health in human capital formation is as follows:
A healthy person is able
to do his work in a proper and efficient way.
A healthy person makes greater contribution to society as
compared to an unhealthy person.
Good health enables a person to earn more and to be more regular
in his work.
Question-5What part does
health play in the individual’s working life?
Solution: An unhealthy person
can not work efficiently. A healthy person is able to work harder and better,
thus, earning more and living a better life. If the body is healthy, only then
one can perform well. So, we can say that health plays a vital role in an
individual’s life.
Question-6What are the
various activities are undertaken in the primary sector, secondary sector and
tertiary sector?
Solution: The primary sector
includes agriculture, forestry, animal husbandry, fishing, poultry farming, and
mining. Quarrying and manufacturing is included in the secondary sector. Trade,
transport, communication, banking, education, health, tourism, services,
insurance etc. are included in the tertiary sector.
Question-7What is the
difference between economic activities and non-economic activities?
Solution:
Economic activities:
1) Economic activities refers to a human
activity related to production & consumption of goods & services for
economic gain.
2) Economic motive is to earn money.
3) Money is measured in monetary terms.
4) It results in creation of wealth &
assets.
Non-economic activities:
1) Non-economic activity refers to a activity
performed with the aim of providing services to others without any regard to
monetary gain.
2) Non-economic motive is social or
psychological.
3) Money lacks in measurement.
4) It results in satisfaction & happiness.
Solution:Women are paid for
their work when they enter the labour market. Their earning, like that of their
male counterpart, is determined on the basis of education and skill. A majority
of the women have meager education and low skill formation and hence women are
paid low compared to men. Most women work where job security is not there.
Question-9How will you
explain the term unemployment?
Solution:Unemployment is
said to exist when people are willing to work at the going wages but cannot
find jobs.
Question-10In which field do you think India can build the
maximum employment opportunity?
Solution:Since
agriculture is the backbone of India, India can build maximum employment
opportunities in agriculture-based industries.
