Question 1 - NCERT Questions - Chapter 2 Class 9 Economics - People as Resource - Economics

What do you understand by 'people as a resource?

Answer

Points to remember

• Country’s working people in terms of their existing productive skills and abilities .
• The population can be an asset rather than a liability .
• When investment is made for the population, it becomes human capital .
• Human capital is the stock of skills and productive knowledge.
• The population is a ‘human resource’.

Answer to be written

• 'People as Resource' is a way of referring to a country’s working people in terms of their existing productive skills and abilities .
• The population can be an asset for the economy rather than a liability .
• When investment is made in education , training and medical care population become human capital .
• Human capital is the stock of skill and productive knowledge embodied in them.
• Like other resources, the population is also a resource—a ' human resource ' .