Class 9 Economics Chapter 2: People as Resource
Class 9 Economics Chapter 2: People as Resource Human Capital and its Formation Q: What is meant by the phrase 'People as Resource'? A: It is a way of referring to a country's working population in terms of their existing productive skills and abilities. Q: What is 'Human Capital Formation'? A: It is the process of further developing the existing human resource by investing in their education and health , which adds to the productive power of the country. Q: How does a 'virtuous cycle' of human development occur? A: It is created when educated and healthy parents invest heavily in the education and health of their children , ensuring they also grow up to be productive and healthy adults. Q: What is a 'vicious cycle' in this context? A: It is created by disadvantaged, uneducated, and unhealthy parents who are unable to invest in their children, keeping them in a similar state of deprivation. Economic Activities Q: What are the three main sectors...