What 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-4
What is the role of health in human capital formation?
‘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-2
How is human resource different from other resources like land and physical capital?
How is human resource different from other resources like land and physical capital?
Solution:
Human capital is in one-way superior to other resources like land and physical capital: human resource can make use of land and physical capital. Land and physical capital cannot become useful on its own.
Question-3
What is the role of education in human capital formation?
Human capital is in one-way superior to other resources like land and physical capital: human resource can make use of land and physical capital. Land and physical capital cannot become useful on its own.
Question-3
What 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. They earn a meagre income like their parents, which is just enough to support a family. Several years of education adds to the quality of labour. This enhances their total productivity. Total productivity adds to the growth of the economy. This in turn pays an individual through salary or in some other form of his choice. 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.
Educated people find jobs in private firms while the uneducated people continue with the same work as their parents. They earn a meagre income like their parents, which is just enough to support a family. Several years of education adds to the quality of labour. This enhances their total productivity. Total productivity adds to the growth of the economy. This in turn pays an individual through salary or in some other form of his choice. 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-4
What is the role of health in human capital formation?
Solution:
The health of a person helps him to realise his potential and the ability to fight illness. An unhealthy person becomes a liability for an organisation. Health is an indispensable basis for realising one’s well being. Henceforth, improvement in the health status of the population has been the priority of the country. Our national policy, too, aimed at improving the accessibility of healthcare, family welfare and nutritional service with special focus on underprivileged segment of population.
The health of a person helps him to realise his potential and the ability to fight illness. An unhealthy person becomes a liability for an organisation. Health is an indispensable basis for realising one’s well being. Henceforth, improvement in the health status of the population has been the priority of the country. Our national policy, too, aimed at improving the accessibility of healthcare, family welfare and nutritional service with special focus on underprivileged segment of population.
Question-5
What part does health play in the individual’s working life?
Solution:
Health plays a vital role in an individual’s working life, since no firm would be induced to employ people who might not work efficiently as healthy workers because of ill health and not only that, people who are physically or mentally ill cannot work.
Health plays a vital role in an individual’s working life, since no firm would be induced to employ people who might not work efficiently as healthy workers because of ill health and not only that, people who are physically or mentally ill cannot work.
Question-6
What are the various activities undertaken in the primary sector, secondary sector and tertiary sector?
Solution:
The various activities have been classified into three main sectors i.e., primary, secondary and tertiary. 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.
The various activities have been classified into three main sectors i.e., primary, secondary and tertiary. 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-7
What is the difference between economic activities and non-economic activities?
Solution:
Economic Activities Non-Economic Activities The activities in the third sector result in the production of goods and services. Activities, which are not performed to earn money but to get some satisfaction, are called non-economic activities. These activities add value to the national income. These activities are called economic activities. These activities are performed to discharge social obligation or for physical fitness or for recreation. Economic activities have two parts — market activities and non-market activities.Market activities involve remuneration to any one who performs. People visiting places of worship, providing relief to the victims of flood and earthquake, engaging in sports activities, gardening, listening to radio orwatching television are all examples of non-economic activities Non-market activities are the production for self-consumption. The three activities most often reported are cleaning, cooking and child minding.
Economic Activities Non-Economic Activities The activities in the third sector result in the production of goods and services. Activities, which are not performed to earn money but to get some satisfaction, are called non-economic activities. These activities add value to the national income. These activities are called economic activities. These activities are performed to discharge social obligation or for physical fitness or for recreation. Economic activities have two parts — market activities and non-market activities.Market activities involve remuneration to any one who performs. People visiting places of worship, providing relief to the victims of flood and earthquake, engaging in sports activities, gardening, listening to radio orwatching television are all examples of non-economic activities Non-market activities are the production for self-consumption. The three activities most often reported are cleaning, cooking and child minding.
Question-8
Why are women employed in low paid work?
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 meagre education and low skill formation and hence women are paid low compared to men. Most women work where job security is not there.
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 meagre education and low skill formation and hence women are paid low compared to men. Most women work where job security is not there.
Question-9
How will you explain the term unemployment?
Solution:
Unemployment is said to exist when people who are willing to work at the going wages but cannot find jobs.
Unemployment is said to exist when people who are willing to work at the going wages but cannot find jobs.
Question-10
What is the difference between disguised unemployment and seasonal unemployment?
Solution:
Disguised UnEmployment Seasonal UnEmployment In case of disguised unemployment people appear to be employed. Seasonal unemployment happenswhen people are not able to find jobs during some months of the year. They have agricultural plot where they find work.This usually happens among family members engaged in agricultural activity. People dependent upon agriculture usually face such kind of problem. The work requires the service of five people but engages eight people. There are certain busy seasons when sowing, harvesting, weeding, threshing is done. Three people are extra. These three people also work in the same plot as five people.The contribution made by the three extra people does not add to the contribution made by the five people.If three people are removed the productivity of the field will not decline.The field requires the service of five people and the three extra people are disguisedly employed. Certain months do not provide much work to the people dependant on agriculture.
Disguised UnEmployment Seasonal UnEmployment In case of disguised unemployment people appear to be employed. Seasonal unemployment happenswhen people are not able to find jobs during some months of the year. They have agricultural plot where they find work.This usually happens among family members engaged in agricultural activity. People dependent upon agriculture usually face such kind of problem. The work requires the service of five people but engages eight people. There are certain busy seasons when sowing, harvesting, weeding, threshing is done. Three people are extra. These three people also work in the same plot as five people.The contribution made by the three extra people does not add to the contribution made by the five people.If three people are removed the productivity of the field will not decline.The field requires the service of five people and the three extra people are disguisedly employed. Certain months do not provide much work to the people dependant on agriculture.
Question-11
Why is educated unemployed, a peculiar problem of India?
Solution:
In the case of India educated unemployment has become a common phenomenon. Many youth with matriculation, graduation and post graduation degrees are not able to find jobs. A study shows that unemployment of graduate and post-graduate has increased faster than among matriculates. A paradoxical manpower situation is witnessed as surplus of manpower in certain categories coexist with shortage of manpower in others.
In the case of India educated unemployment has become a common phenomenon. Many youth with matriculation, graduation and post graduation degrees are not able to find jobs. A study shows that unemployment of graduate and post-graduate has increased faster than among matriculates. A paradoxical manpower situation is witnessed as surplus of manpower in certain categories coexist with shortage of manpower in others.
Question-12
In 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 opportunity in agriculture based industries.
Since agriculture is the backbone of India, India can build maximum employment opportunity in agriculture based industries.
Question-13
Can you imagine some village which initially had no job opportunities but later came up with many?
Solution:
Sriperambathur, Nanganneri, Koodangulam, etc. are some of the villages which did not have job opportunities earlier but later came up.
Sriperambathur, Nanganneri, Koodangulam, etc. are some of the villages which did not have job opportunities earlier but later came up.
Question-14
Which capital would you consider the best — land, labour, physical capital and human capital? Why?
Solution:
The capital I consider the best is Human Capital because there are countries like Japan that have invested in human resource as they did not have any natural resource. These countries are developed and rich countries. They import the natural resource needed in their country. They have invested on people especially in the field of education and health. These people have made efficient use of other resource like land and capital. Efficiency and the technology evolved by people have made these countries rich and developed.
The capital I consider the best is Human Capital because there are countries like Japan that have invested in human resource as they did not have any natural resource. These countries are developed and rich countries. They import the natural resource needed in their country. They have invested on people especially in the field of education and health. These people have made efficient use of other resource like land and capital. Efficiency and the technology evolved by people have made these countries rich and developed.