Questions and Answers
What was the expenditure on education as a percentage of GDP in 1951-52?
What percentage of gross enrolment ratio (GER) in higher education was recorded for the age group of 18 to 23 years in 2019-20?
Which program was introduced to improve the attendance of children in schools?
What was the literacy rate in India in 1951?
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How much did the expenditure on education increase from the first plan to 2020-2021?
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What term refers to working individuals in terms of their skills and abilities within a country?
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What can negatively impact a country's economy despite having human resources?
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What is the relationship between human capital and economic growth?
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Which revolution is cited as an example of improving productivity through technology?
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What is a key feature of human capital formation?
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Which sector involves activities like agriculture and fishing?
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What is the consequence of parents being uneducated and lacking hygiene?
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What sector includes trade, transport, and communication?
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What has been the priority of the country's national policy regarding health?
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What type of unemployment is commonly found in urban areas?
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Which states have the maximum number of medical colleges in India?
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What impact does unemployment have on the economy?
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What is a significant reason for the decline in dependence on agriculture?
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What is the primary characteristic of small-scale manufacturing in the secondary sector?
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Which population age group is classified as the workforce population?
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What is highlighted as a dearth in urban areas despite educated unemployment?
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What are the two main parts of economic activities?
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How does education affect women's earnings in the workforce?
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Which of the following is NOT a factor that contributes to the quality of the population?
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What impact does education have on society and national income?
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What are non-market activities primarily associated with?
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Study Notes
People as Resources
- Definition encompasses the workforce and their productive skills and abilities in a country.
- Human capital boosts GDP by enhancing individual production capabilities.
- Potential negative impacts include health issues, education deficits, unemployment, and food insecurity.
Human Capital Formation
- Involves education and health that enhance a country's productivity and returns.
- The Green Revolution exemplifies improved technologies that increased land productivity.
- Human capital is considered superior to land and physical assets.
Educational Influence
- Educated parents invest more in their children's education and uphold good nutrition and hygiene.
- Vicious cycles of disadvantage arise when uneducated parents perpetuate uneducated environments for their children.
Economic Activities
- Classified into three sectors:
- Primary: agriculture, forestry, animal husbandry, fishing.
- Secondary: manufacturing.
- Tertiary: trade, transport, communication, tourism.
- Economic activities contribute to national income and can be categorized as market and non-market activities.
Gender Disparities in Workforce
- Women often possess lower education and skills, resulting in lower pay and job insecurity compared to men.
- Higher educational attainment among women promotes pay equity, especially in fields like medicine and teaching.
Quality of Population
- Depends on literacy rates, health and life expectancy, and skill formation, directly influencing a country's growth.
- Literate and healthy populations are viewed as assets to economic development.
Education Statistics
- Significant rise in expenditure on education: from ₹151 crore in the first plan to ₹99,300 crore in 2020-21.
- Percentage of GDP dedicated to education increased from 0.64% in 1951-52 to 3.1% in 2019-20.
- Literacy rate improvement from 18% in 1951 to 85% in 2018, with higher male literacy compared to females.
- Primary school system expanded to 778,842 by 2019-20.
- Initiatives like Sarva Siksha Abhiyan were started to promote education for children aged 6 to 14.
Health Infrastructure
- Health is crucial for well-being and national priority to enhance healthcare accessibility.
- Over decades, India has built significant health infrastructure with 542 medical colleges and numerous dental colleges.
Unemployment Challenges
- Workforce age defined as 15 to 59 years; unemployment varies between rural and urban settings.
- Rural areas experience seasonal and disguised unemployment, while urban areas face educated unemployment.
- Unemployment represents wasted resources, transforming potential assets into liabilities for the economy.
- Labor dependence on agriculture is declining, leading to shifting labor towards secondary and tertiary sectors.
Emerging Economic Sectors
- Increased presence in small-scale manufacturing and emerging service industries including biotechnology and information technology.
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Description
This quiz explores the concept of people as resources in economics, focusing on human capital and its impact on a country's GDP. It emphasizes the productive skills and abilities of the workforce while addressing potential negative effects such as health and education issues. Test your knowledge on this important economic principle.
