Scribd Logo
Upload

Welcome to Scribd!

  • 6 views

    Chapter 2

    Uploaded by

    mayank2004katiyar

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Chapter 2

    Uploaded by

    mayank2004katiyar
    6 views4 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    6 views4 pages

    Chapter 2

    Uploaded by

    mayank2004katiyar

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Chapter 2

    Question-1
    What do you understand by ‘people as a resource’?
    Solution:
    ‘People as Resource’ is a way of referring to a country’s working people in
    terms of their existing productive skills and abilities. Human resource is an
    asset for the economy rather than a liability. Population becomes human
    capital when there is investment made in the form of education, training
    and medical care. In fact, human capital is the stock of skill and
    productive knowledge embodied in them.

    Question-2
    How is human resource different from other resources like land and
    physical capital?
    Solution:
    Human resource is different in the following ways:

    1. Land and other resources are fixed, limited and specified


    whereas human resources can be nurtured through education
    and health.
    2. Human resources can bring a change in other resources
    whereas other resources can not change or affect human
    resource.
    3. Human resource can make use of land and physical capital
    whereas land and physical capital can not become useful on its
    own.

    Question-3
    What is the role of education in human capital formation?
    Solution:
    Educated people find jobs in private firms while the uneducated people
    continue with the same work as their parents. They earn a meagre income
    like their parents, which is just enough to support a family. Several years
    of education adds to the quality of labour. This enhances their total
    productivity. Total productivity adds to the growth of the economy. This in
    turn pays an individual through salary or in some other form of his choice.
    It is a known fact that with investments made on education and health;
    one can yield a high return in the future in the form of higher earnings and
    greater contribution to society.

    Question-4
    What is the role of health in human capital formation?
    Solution:
    The role of health in human capital formation is as follows:
    1. Healthier people have higher productivity because the health
    of a person helps him to realise his potential and the ability to
    fight illness. On the other hand, an unhealthy person becomes
    a liability for an organisation.
    2. It improves the quality of life. A healthy person is able to do his
    work in a proper and efficient way.
    3. A healthy person makes greater contribution to society as
    compared to an unhealthy person.
    4. Good health enables a person to earn more and to be more
    regular in his work.

    Question-5
    What part does health play in the individual’s working life?
    Solution:
    Health plays a very important role in an individual’s life because as we all
    know health is wealth and only a healthy person can work or perform to
    his full potential. An unhealthy person can not work efficiently. A healthy
    person is able to work harder and better, thus, earning more and living a
    better life. If the body is healthy, only then one can perform well. So, we
    can say that health plays a vital role in an individual’s life.

    Question-6
    What are the various activities are undertaken in the primary sector,
    secondary sector and tertiary sector?
    Solution:
    The various activities have been classified into three main sectors i.e.,
    primary, secondary and tertiary. The primary sector includes agriculture,
    forestry, animal husbandry, fishing, poultry farming, and mining.
    Quarrying and manufacturing is included in the secondary sector. Trade,
    transport, communication, banking, education, health, tourism, services,
    insurance etc. are included in the tertiary sector.

    Question-7
    What is the difference between economic activities and non-economic
    activities?
    Solution:
    Economic Activities Non-Economic Activities The activities in the third
    sector result in the production of goods and services. Activities, which are
    not performed to earn money but to get some satisfaction, are called non-
    economic activities. These activities add value to the national income.
    These activities are called economic activities. These activities are
    performed to discharge social obligation or for physical fitness or for
    recreation. Economic activities have two parts — market activities and
    non-market activities.

    Market activities involve remuneration to anyone who performs. People


    visiting places of worship, providing relief to the victims of flood and
    earthquake, engaging in sports activities, gardening, listening to radio or
    watching television are all examples of non-economic activities Non-
    market activities are the production for self-consumption. The three
    activities most often reported are cleaning, cooking, and childminding.

    Question-8
    Why are women employed in low paid work?
    Solution:
    Women are paid for their work when they enter the labour market. Their
    earning, like that of their male counterpart, is determined on the basis of
    education and skill. A majority of the women have meager education and
    low skill formation and hence women are paid low compared to men. Most
    women work where job security is not there.

    Question-9
    How will you explain the term unemployment?
    Solution:
    Unemployment is said to exist when people are willing to work at the
    going wages but cannot find jobs.

    Question-10
    What is the difference between disguised unemployment and seasonal
    unemployment?
    Solution:
    Disguised Unemployment. In case of disguised unemployment, people
    appear to be employed but they are not actually employed. Sometimes, in
    agricultural families, eight people are working on a farm, whereas only
    four people are needed to do that work. Thus, four persons are surplus
    and they are not needed on the farm. They also do not help to increase
    the production. If these four extra persons are removed from the farm, the
    production from the farm will not decrease. Therefore, these four persons
    appear to be employed but are actually disguisedly unemployed.

    Seasonal Unemployment. Seasonal unemployment happens when


    people are not able to find jobs during some months of the year. People
    dependent upon agriculture usually face such problems. There are certain
    busy seasons when sowing, harvesting, weeding and threshing are done.
    When the plants are growing, there is not much work. During this period,
    they remain unemployed and are said to be seasonally unemployed.

    Question-11
    Why is educated unemployed, a peculiar problem of India?
    Solution:
    In the case of India educated unemployment has become a common
    phenomenon. Many youths with matriculation, graduation and post-
    graduation degrees are not able to find jobs. A study shows that the
    unemployment of graduates and post-graduate has increased faster than
    among matriculates. A paradoxical manpower situation is witnessed as a
    surplus of manpower in certain categories coexist with a shortage of
    manpower in others.

    Question-12
    In which field do you think India can build the maximum employment
    opportunity?
    Solution:
    Since agriculture is the backbone of India, India can build maximum
    employment opportunities in agriculture-based industries.

    Question-13
    Can you imagine some village that initially had no job opportunities but
    later came up with many?
    Solution:
    Some of the measures in the education system to mitigate the
    problem of the educated unemployed are:

    1. Vocational education should be encouraged so that people do


    not have difficulty getting jobs because they will be better
    trained for work.
    2. More use of information technology should be made in giving
    education.
    3. Education should be job-oriented.
    4. More employment opportunities should be made available to
    the educated people in the tertiary sector.

    Question-14
    Which capital would you consider the best — land, labour, physical capital
    and human capital? Why?
    Solution:
    The capital I consider the best in Human Capital because there are
    countries like Japan that have invested in human resources as they did
    not have any natural resources. These countries are developed and rich
    countries. They import the natural resource needed in their country. They
    have invested in people especially in the field of education and health.
    These people have made efficient use of other resources like land and
    capital. Efficiency and technology evolved by people have made these
    countries rich and developed.

    You might also like