People as Resource - Chapter Overview
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People as Resource - Chapter Overview

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Questions and Answers

What primarily contributes to higher incomes in a population?

  • Lower costs of living
  • Government subsidies
  • Inheritance and wealth transfer
  • Higher productivity from education and health (correct)
  • How can a growing population be transformed into a productive asset?

  • By relying solely on automation in industries
  • By reducing workforce training programs
  • By investing in human capital through education and health (correct)
  • By increasing the retirement age
  • Which of the following best illustrates the concept of human capital?

  • Spending on education and health services (correct)
  • Encouragement of urbanization
  • Utilization of natural resources
  • Investment in machinery and tools
  • What is a potential benefit of training workers in modern technology?

    <p>Increased production efficiency</p> Signup and view all the answers

    In the story of Sakal, what role does he play in his household?

    <p>He helps his mother with domestic chores.</p> Signup and view all the answers

    Which of the following activities would be categorized as an economic activity?

    <p>Vilas sells fish in the village market.</p> Signup and view all the answers

    What describes the employment characteristics in the informal sector?

    <p>Irregular income and lack of social security systems.</p> Signup and view all the answers

    Which factor is majorly responsible for determining an individual's earnings in the market?

    <p>Education and skill formation.</p> Signup and view all the answers

    Which sector do activities like teaching and medicine primarily attract individuals?

    <p>Organised sector.</p> Signup and view all the answers

    What is a major challenge faced by women in the workforce based on the given information?

    <p>Low education levels leading to low-skilled jobs.</p> Signup and view all the answers

    What is meant by 'human capital formation'?

    <p>Investing in the education and health of people to enhance their productivity.</p> Signup and view all the answers

    How does India's Green Revolution illustrate the concept of human capital?

    <p>It showcased the impact of improved knowledge and techniques on agricultural productivity.</p> Signup and view all the answers

    What does the term 'people as resource' emphasize?

    <p>The potential contributions of the workforce to economic growth.</p> Signup and view all the answers

    Why is investment in human capital considered beneficial?

    <p>It leads to significant and sustainable increases in productivity over time.</p> Signup and view all the answers

    Which factor is NOT a component of human capital as described?

    <p>Material ownership and wealth.</p> Signup and view all the answers

    What was Vilas forced to do to support his family?

    <p>Sell fish like his mother</p> Signup and view all the answers

    What do investments in human resources aim to achieve?

    <p>High rates of return in the future</p> Signup and view all the answers

    Which sector includes activities like agriculture and fishing?

    <p>Primary sector</p> Signup and view all the answers

    How does Total Productivity influence economic growth?

    <p>By increasing individual earnings through improved productivity</p> Signup and view all the answers

    What is an example of an activity in the tertiary sector?

    <p>Banking</p> Signup and view all the answers

    What motivates poor people to engage in various activities?

    <p>Forced economic conditions</p> Signup and view all the answers

    Which sector is the most labor-absorbing among the options listed?

    <p>Small-scale manufacturing</p> Signup and view all the answers

    What is a significant trend in the tertiary sector mentioned in the content?

    <p>Emergence of new services</p> Signup and view all the answers

    What was the family's decision regarding one of their sons?

    <p>To attend an agriculture college</p> Signup and view all the answers

    How did families in the village meet their basic needs?

    <p>Through self-sufficiency in production</p> Signup and view all the answers

    Study Notes

    Overview of People as Resource

    • Population viewed as an economic asset when invested through education, training, and health services.
    • Human capital consists of the skills and knowledge that improve productivity.
    • Investment in human capital can yield higher economic returns similar to investment in physical capital.

    Economic Contribution of Population

    • Population recognized as a 'human resource' contributing to Gross National Product (GNP).
    • Viewing population positively encourages focus on productivity, not just challenges like food and education needs.
    • Human capital formation enhances the productive capacity of the workforce.

    Case Studies: Sakal and Vilas

    • Sakal benefited from education, enhancing labor quality, leading to higher productivity and income.
    • Vilas, lacking education, remained in low-skill, low-income jobs, illustrating the impact of human capital on economic opportunities.

    Economic Activities Classification

    • Economic activities categorized into three sectors:
      • Primary Sector: Agriculture, forestry, fishing, mining.
      • Secondary Sector: Manufacturing industries.
      • Tertiary Sector: Services like trade, transportation, and education.

    Importance of Education and Skills

    • Education enhances the ability to utilize economic opportunities effectively.
    • Women face challenges like low education and job security, resulting in lower wages compared to men.
    • Higher education and skills enable women to earn wages comparable to men, especially in organized sectors like teaching and medicine.

    Economic Status of Women

    • Many women work in sectors without job security and basic facilities.
    • The labor market often forces poor individuals, including women, into any available work to meet subsistence needs.
    • Lack of options and irregular income characterize employment within the informal sector.

    Collective Community Efforts

    • Villages can thrive when families work together, meet needs through self-sufficiency, and pursue education, such as sending members to vocational training.
    • Community development relies on collective investment in education and skills for agricultural advancements.

    New Economic Opportunities

    • Emerging sectors like biotechnology and information technology demonstrate growth in labor-absorbing industries in the tertiary sector.
    • Investments in education and training help adapt to evolving market demands and job opportunities.

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    Description

    This quiz focuses on the chapter 'People as Resource', highlighting the significance of population as a potential resource for economic growth. It discusses India's Green Revolution as a case study, demonstrating how enhanced knowledge and technology lead to improved productivity.

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