We will study and discuss about these terms:
Two Parts of Economic Activities
Works Performed under Economic activities
Quality of population is mainly in literacy rate and health of the population. Literate and healthy populations are asset for a country.
Two types of unemployment found in rural areas
Urban areas unemployment
Infant mortality rate (IMR): Infant mortality rate is the death of a child who is come under one year of age. It is measured by number of death of children under one year of age per 1000 live births.
Birth rates: It is the number of babies born there for every 1,000 people during a particular period of time.
Death rate: It is the number of people per 1,000 who die during a particular period of time.
Gross National Product: Gross national product is the estimation of the value of the final goods and services by the residents of the country in a given time period.
National Income: National Income is the estimation of the value of the final goods and services produced by a country in a given time period.
Human capital: Human capital is the stock of skill and productive knowledge embodied in human beings.
Human capital formation: Human capital formation includes the process of training, medical care etc. Education and health are the source for the human capital formation.
People as resources: It is a way of referring to a country’s workforce in terms of existing skills and abilities.
|1. What is the concept of "people as resource" in economics?|
|2. How can investment in education and healthcare help in harnessing people as resources?|
|3. What are the factors that determine the quality of human resources?|
|4. How does the concept of "people as resource" relate to sustainable development?|
|5. What are some strategies that can be adopted to effectively utilize people as resources in a country?|