Glossary - Concepts - Chapter 2 Class 9 Economics - People as Resource - Economics

Infant Mortality Rate

• The infant mortality rate is the death of a child below one year of age.

Birth Rate

• The birth rate is the number of babies born for every 1,000 people during a particular period. 

Death Rate

• The death rate is the number of people per 1,000 who die during a particular period.

Human Capital

• When investment is made in education , training and medical care population becomes human capital.

Land

• the part of the earth's surface that is not covered by water .

Labour

• The work done by a group of workers or by a particular worker .

Physical capital

• Equipment, machinery , and buildings are examples of physical capital.

Literacy Rate

• Percentage of population of a given age that can read and write .

Market Activities

• activity performed for pay or profit . These include the production of goods or services , including government services.

Non-Market Activities

• Non-market activities are the production for self-consumption.

Unemployment

• Unemployment exists when people who are willing to work at the going wages cannot find jobs .

Seasonal unemployment

• Seasonal Unemployment occurs when people are not able to find work during some months of the year .

Disguised unemployment

• In disguised unemployment people appear to be employed but their contribution is not needed .

Educated unemployment

• Educated unemployment occur when educated youth with matriculation , graduation and post-graduation degrees are not able to find jobs .