Economics: People as Resources
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Questions and Answers

Why is it important to view people as resources?

Viewing people as resources helps in acknowledging their potential to contribute to the economy and society.

What are some ways to invest in human capital?

Investing in education, skill development, and healthcare are some ways to enhance human capital.

What is the main focus of the chapter 'People as Resources'?

The main focus is on recognizing human capital as a valuable resource for economic development.

How does human capital contribute to economic growth?

<p>Human capital contributes to economic growth by increasing productivity, innovation, and the overall quality of life.</p> Signup and view all the answers

In the context of 'People as Resources', which factor has the most significant impact on economic growth?

<p>Technological advancement</p> Signup and view all the answers

What is the primary focus when viewing people as resources?

<p>Maximizing labor productivity</p> Signup and view all the answers

Which of the following best describes the concept of 'human capital'?

<p>The collective skills, knowledge, and abilities of individuals that contribute to economic productivity</p> Signup and view all the answers

What is a key characteristic of an effective human capital investment strategy?

<p>Long-term development and continuous learning opportunities</p> Signup and view all the answers

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