People as Resource

1. What do you understand by ‘people as a resource’?

Answer:

'People as a resource' refers to recognizing the population as a valuable asset rather than a burden. It emphasizes viewing individuals as valuable contributors to society's growth and development. When individuals receive education and training, they become human capital, enhancing their economic productivity and benefiting society as a whole. Human capital is not just about the population size but also about their education, skills, health, and other qualities that make them productive.

2. How is human resource different from other resources like land and physical capital?

Answer: 

Human resource differs from land and physical capital in that it is the only resource capable of actively utilizing and managing other resources effectively. While land and physical capital are passive factors of production, human resource is an active factor that drives innovation, productivity, and economic growth. Human resource can adapt, innovate, and improve the efficiency of other resources, making it the most dynamic and valuable resource in economic development.

3. What is the role of education in human capital formation?

Answer:

Education plays a crucial role in human capital formation by enhancing individuals' skills, knowledge, and abilities. It enables individuals to adapt to new technologies, improve productivity, and contribute to economic development. Education also promotes social and economic mobility, leading to overall societal progress. Education not only imparts knowledge but also teaches individuals how to think critically, solve problems, and communicate effectively, making them valuable contributors to the economy.

4. What is the role of health in human capital formation?

Answer: 

Health is essential in human capital formation as it affects individuals' productivity and ability to participate in economic activities. Good health reduces absenteeism, improves cognitive abilities, and enhances overall well-being, leading to higher productivity and economic growth. Investments in healthcare contribute to human capital development by ensuring a healthy and productive workforce. Healthier individuals are not only more productive but also contribute to lower healthcare costs and a better quality of life.

5. What part does health play in the individual’s working life?

Answer:

Health plays a crucial role in an individual's working life by influencing their productivity, efficiency, and overall well-being. A healthy individual is more likely to perform well at work, take fewer sick leaves, and contribute positively to the workplace environment. Therefore, maintaining good health is essential for a successful and fulfilling working life. Employers also benefit from having a healthy workforce, as it leads to higher morale, lower turnover, and increased productivity.

6. What are the various activities undertaken in the primary, secondary, and tertiary sectors?

Answer:

The primary sector includes activities such as agriculture, forestry, fishing, and mining, where natural resources are extracted or harvested. The secondary sector involves manufacturing and processing activities, where raw materials are transformed into finished goods. The tertiary sector comprises services such as trade, transport, communication, banking, education, health, tourism, and insurance, which support and facilitate economic activities in other sectors. Each sector plays a vital role in the economy, with the tertiary sector becoming increasingly important in modern economies.

7. What is the difference between economic activities and non-economic activities?

Answer: 

Economic activities are those that involve the production, distribution, and consumption of goods and services for monetary gain. They contribute to the overall economy and include market activities, where goods and services are produced for sale, and non-market activities, where goods and services are produced for self-consumption. Non-economic activities, on the other hand, do not involve monetary transactions and do not contribute to the economy. Examples include household chores, volunteer work, and leisure activities.

8. Why are women employed in low-paid work?

Answer: 

Women are often employed in low-paid work due to various factors, including gender discrimination, limited access to education and training, and societal expectations regarding women's roles. Gender-based wage discrimination and the undervaluation of women's work also contribute to lower wages for women. Additionally, women are often concentrated in industries and occupations that are traditionally undervalued and offer lower wages. Improving access to education, training, and employment opportunities can help address the gender wage gap and improve women's economic empowerment.

9. How will you explain the term unemployment?

Answer:

Unemployment refers to a situation where individuals who are willing and able to work are unable to find suitable employment. It is a measure of underutilized labor resources in the economy and can have significant social and economic consequences. Unemployment can occur due to various reasons, including economic downturns, technological changes, and mismatched skills between job seekers and available jobs. It is a key indicator of the health of an economy and is closely monitored by policymakers and economists.

10. What is the difference between disguised unemployment and seasonal unemployment?

Answer: 

Disguised unemployment occurs when more people are engaged in a task than are actually needed, leading to inefficiency. It often occurs in the agricultural sector, where more labor is employed than necessary due to small landholdings and lack of alternative employment opportunities. Seasonal unemployment, on the other hand, occurs when individuals are unemployed during certain times of the year due to seasonal variations in demand for labor. It is common in industries such as agriculture, tourism, and construction, where demand for labor fluctuates with the seasons.

11. Why is educated unemployment a peculiar problem in India?

Answer: 

Educated unemployment is a significant issue in India due to the mismatch between the skills possessed by job seekers and the skills demanded by employers. The education system often fails to provide students with the necessary skills and training required for available jobs, leading to high levels of educated unemployment. Additionally, rapid technological advancements and changes in the global economy have further exacerbated this issue, making it challenging for educated youth to find suitable employment opportunities.

12. In which field do you think India can build the maximum employment opportunity?

Answer: 

India has the potential to create significant employment opportunities in the manufacturing sector. By focusing on skill development, technology adoption, and infrastructure improvement, India can capitalize on its large workforce and create millions of jobs in the manufacturing sector. The government's 'Make in India' initiative and efforts to improve the ease of doing business are aimed at promoting manufacturing growth and creating more job opportunities in the sector.

13. Can you suggest some measures in the education system to mitigate the problem of educated unemployment?

Answer: 

To address educated unemployment, the education system can focus on providing vocational training, promoting entrepreneurship, and aligning curriculum with industry requirements. Emphasizing practical skills and experiential learning can better prepare students for the job market and reduce the gap between education and employment. Additionally, creating more internship and apprenticeship opportunities can help students gain valuable work experience and enhance their employability.

14. Can you imagine a village that initially had no job opportunities but later developed many?

Answer:

This question encourages students to think creatively and envision a scenario where a village transforms from a place with limited job opportunities to a thriving hub of economic activity. Students can consider factors such as infrastructure development, skill training programs, and the establishment of new industries to support their imagination. For example, the village could attract investment in agriculture, tourism, or manufacturing, leading to the creation of new jobs and economic prosperity for the community.

15. Which capital would you consider the best — land, labor, physical capital, or human capital? Why?

Answer: 

Human capital is often considered the most valuable form of capital as it encompasses the skills, knowledge, and abilities of individuals. Unlike other forms of capital, human capital can appreciate over time through education, training, and experience, making it a key driver of economic growth and development. Investing in human capital not only benefits individuals but also strengthens the economy as a whole by increasing productivity, innovation, and economic competitiveness.

Summary

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CBSE Class 9 Economics Notes Chapter 2 – People as Resource

Overview:

- People as Resource refers to a country's working population in terms of their skills and abilities.

- Human capital formation occurs when the existing human resource becomes more educated and healthy.

- Investment in human capital yields returns like an investment in physical capital.

- Human capital is superior to other resources and contributes to total productivity and economic growth.

Economic Activities by Men and Women:

- Economic activities are divided into primary, secondary, and tertiary sectors.

- Primary sector includes agriculture, forestry, animal husbandry, etc.

- Secondary sector includes manufacturing.

- Tertiary sector includes trade, transport, communication, banking, education, health, etc.

- Economic activities are categorized into market activities (performed for pay or profit) and non-market activities (production for self-consumption).

Division of Labour:

- Historically, there was a division of labour between men and women, with men being paid for their services while women were not.

- Education plays a crucial role in enabling individuals, especially women, to access better economic opportunities.

Quality of Population:

- The quality of the population depends on literacy rate, life expectancy, and skill formation.

- A literate and healthy population is considered an asset for a country.

Education:

- Education contributes to societal growth, enhances national income, and improves governance efficiency.

- Programs like Sarva Siksha Abhiyan aim to provide elementary education to all children aged 6-14 years.

Health:

- Improvement in health status is a priority for India, with policies focusing on improving healthcare accessibility and family welfare.

Unemployment:

- India faces both rural and urban unemployment, with seasonal and disguised unemployment in rural areas, and educated unemployment in urban areas.

- Unemployment leads to the wastage of manpower resources and impacts economic growth negatively.

Employment Structure:

- The employment structure in India is characterized by self-employment in the primary sector, with agriculture being the most labor-absorbing sector.

- However, there has been a decline in the dependence of the population on agriculture, with some surplus labor moving to the secondary and tertiary sectors.

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