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People As Resource

    • Question 1
    CBSEENSS9007989
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    What do you understand by ‘people as resource’?

    Solution

    ‘People as Resource’ is a way of referring to a country's working people in term of their existing productive skills and abilities. People as a resource contribute to the creation of the Gross National Product. People as resource is the positive side of a large population that is often overlooked.

    Question 2
    CBSEENSS9007990
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    How is human resources different from other resources like land and physical capital?

    Solution

    Following are the differences between human resources and land and physical capital resources:

    Human Resources

    Land and Physical Capital Resources

    (i)Human resource is a primary factor of production as it can make use of land and capital.

    (ii)Human resource is an active factor of production.

    (iii)It includes education, health etc.

    (i)Land and physical capital resources are secondary factors of production as they cannot become useful on their own.

    (ii)These are passive factor of production.

    (iii)These includes building, land etc.
    Question 3
    CBSEENSS9007991
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    What is the role of education in human capital formation?

    Solution

    Following are the role of education in human capital formation:

    (i) Education bears fruits in term of good job and salary. 

    (ii)Education increases the efficiency of the workers.
    (iii) Education helps in increasing the mental horizon of the people.

    (iv) Education enhances the national income, cultural richness and increase the efficiency of governance.

    (v) Education encourages economic development through greater participation of the people in the affairs of the country.

    Question 4
    CBSEENSS9007992
    Wired Faculty App

    What is the role of health in human capital formation?

    Solution

    Following are the role of health in human capital formation:


    (i)The health of a person helps him to realise his potential and ability to fight illness.

    (ii)Good health increases the efficiency of a worker.

    (iii)Good health increases the learning capacity of a worker.

    (iv)Health does not mean survival only. It involves not only the physical fitness of the individual but also his mental.

    (v)Health is an indispensable basis for realising one's well being.

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