People as resources (Economics)

People as resources
By : Aditi Jaiswal
1. Introduction
2. Human as Resource
3. Economic Activities
Contents 4. Non-Economic Activities
5. Quality of Population
6. Education
7. Health
8. Unemployment
Introduction
● 'People as Resource' is a way to relate to the
working people of a country with respect to their
current functional skills and abilities.
● Human resources is not a liability but an asset to the
economy.
● The population becomes human capital when
investment in the form of education, training, and
health care is made.
● Human capital, in essence, is the stock of skill and
productive knowledge embodied within it.
Human as Resource
1. People who are part of the workforce are
called human resource.
2. By contributing in productivity, the human

resource plays a significant role in the
economy of a country.
3. Any other resource becomes useful only

because of the input by the human
resource.
4. Investment in human capital yields a return

like investment in other resources.
5. Investment in human capital is done

through education, training and healthcare.
6. A person with better education usually

earns better than an uneducated person.
7. Moreover, a healthy person is more

productive.
Economic Activities
Economic activities refer to those activities of man
which are undertaken for a monetary gain or to satisfy
his/her wants. The activities of workers, farmers,
shopkeepers, manufacturers, doctors, lawyers, taxi
drivers, etc. fall under this category.
This can be categorized into three types:
1. Primary Activities
2. Secondary Activities
3. Tertiary Activities
Primary Activities
1. All the activities connected with
the extraction and production of
natural resources are called
primary activities.
2. Examples: agriculture, fishing,

dairy farming etc.
Secondary Activities
1. The resources obtained from
primary activities are processed
and made into final products are
called secondary activities.
2. Examples: baking of bread,

weaving of clothes,
manufacturing industries etc.
Tertiary Activities
1. Transportation of finished goods
to shop and selling in the market
are called tertiary activities.
These activities provide support
to primary and secondary
activities.
2. Examples: transportation, trade,

banking etc.
Non-Economic
Activities
● Non-economic activities are ones that are not
undertaken for any monetary gain.
● These are also called unpaid activities.
● Example - Puja-paath, housekeeping, helping the
poor or disabled, etc.
Quality of
Population
1. Literacy rate, health and skills
determine the quality of a
population.
2. Illiterate and unhealthy

population can be a liability for
the economy.
3. Literate and healthy population

can be made into an asset for
the economy.
4. Literate and healthy population

contributes towards GDP of a
country.
Education
● Education defines the literacy
level and skill level of a person.
● It also helps in enriching the
culture of the society.
● Presence of educated persons in
the society indirectly benefits the
illiterate persons as well.
● Government has taken various
steps to spread education among
the people.
● Government strives to provide
universal access to education. It
also makes various plans to
increase the retention of
students. Special emphasis is
given on girl's education.
Health
● Health is another very important
component of human resource
development. Efficiency of
workers largely depends on their
health.
● There has been considerable
improvement in the country's
health standard.
● Infant mortality rate is the death
of the child under one year of
age.
● India has built up a vast health
infrastructure but still much more
is needed to be done.
Unemployment
Unemployment is said to exist when people who are
willing to work at the prevailing wage rates cannot find
jobs. When we talk of unemployed people, we refer to
those in the age group of 15-59 years. Children below 15
years of age and the old people above 60 are not
considered while counting the number of unemployed.
Nature of Unemployment in India:
● Seasonal unemployment
● Disguised unemployment
Seasonal unemployment Disguised unemployment
Seasonal unemployment occurs Disguised unemployment refers to a

when people fail to get work during situation where in the number of
some months of the year (that is, workers in a job is more than actually
during off-season). Farm labourers required to do the job. The extra
usually face this kind of problem. number of workers are disguisedly
unemployed.
Consequences of Unemployment
1. Unemployment leads to wastage

of manpower resource.
2. Unemployment tends to
increase the economic overload
that is dependence of the
unemployed on the working
population.
3. Unemployment may lead to

increase in social unrest and
tension.
Thank You

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People as resources

Contents 4. Non-Economic Activities

2. By contributing in productivity, the human

3. Any other resource becomes useful only

4. Investment in human capital yields a return

5. Investment in human capital is done

6. A person with better education usually

7. Moreover, a healthy person is more

This can be categorized into three types:

2. Examples: agriculture, fishing,

2. Examples: baking of bread,

2. Examples: transportation, trade,

2. Illiterate and unhealthy

3. Literate and healthy population

4. Literate and healthy population

Nature of Unemployment in India:

Seasonal unemployment occurs Disguised unemployment refers to a

1. Unemployment leads to wastage

3. Unemployment may lead to

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