Podcast
Questions and Answers
What is the definition of human capital?
What is the definition of human capital?
- The stock of skill and productive knowledge embodied in people (correct)
- The investment made in education, training, and medical care
- The population of a country
- The ability of a population to contribute to the Gross National Product
What does the chapter 'People as Resource' aim to explain?
What does the chapter 'People as Resource' aim to explain?
- The problems of providing food, education, and health facilities to the population
- The negative side of a large population
- The importance of population as an asset for the economy (correct)
- The existing productive skills and abilities of a country's working people
How does population contribute to the creation of the Gross National Product?
How does population contribute to the creation of the Gross National Product?
- By investing in education, training, and medical care
- By developing existing human resources
- By providing food, education, and access to health facilities
- By becoming a human resource (correct)
What is the positive side of a large population mentioned in the text?
What is the positive side of a large population mentioned in the text?
How can the existing 'human resource' be further developed?
How can the existing 'human resource' be further developed?
Study Notes
Human Capital
- Human capital refers to the knowledge, skills, and abilities acquired by individuals that enhance their productivity and earning potential.
People as Resource
- The chapter aims to explain how people are a valuable resource for a country's economic development, and how they contribute to the creation of the Gross National Product (GNP).
Population and GNP
- A growing population contributes to the creation of GNP through increased labor force, consumer demand, and innovation.
Positive Side of Large Population
- A large population can lead to a large workforce, increased consumer demand, and economies of scale in production, ultimately boosting economic growth.
Developing Human Resource
- The existing human resource can be further developed through education, training, and health care, enabling individuals to acquire new skills and enhance their productivity.
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Description
Test your knowledge on the concept of "People as Resource" with this insightful quiz. Explore the importance of population as an asset for the economy and understand how investment in education, training, and healthcare can transform individuals into valuable human capital. Assess your understanding of this concept and its implications on economic growth and development.
