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People as Resource Chapter 2

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Questions and Answers

What is the primary focus of the chapter 'People as Resource'?

To highlight the negative impacts of population growth on the economy

To emphasize the importance of education and training for human capital formation (correct)

To demonstrate the correlation between population size and economic development

To analyze the role of government in controlling population growth

What is the term used to describe the working population in terms of their existing productive skills and abilities?

Productive power

Economic asset

Human capital

Human resource (correct)

What is the outcome of investment in human capital through education, training, and medical care?

Decreased economic development

Reduced productive power

Increased population growth

Return on investment, similar to physical capital formation (correct)

Why is population considered a resource, rather than a liability?

Because it has the potential to contribute to economic development Signup and view all the answers

What is the term used to describe the process of developing the existing human resource through education, training, and medical care?

Human capital formation Signup and view all the answers

What is the underlying assumption of the concept of 'People as Resource'?

Investment in human capital can yield economic returns Signup and view all the answers

What is a key factor that contributes to higher productivity in individuals?

Health and education Signup and view all the answers

What is an example of how technology can improve productivity?

Implementation of the Green Revolution in India Signup and view all the answers

What has come to be valued more than material resources in the Indian IT industry?

Human capital Signup and view all the answers

What is implied by the phrase 'human capital'?

The economic value of a person's skills and knowledge Signup and view all the answers

What is the relationship between human capital and traditional factors of production?

Human capital is more than traditional factors of production Signup and view all the answers