1.Give an example to prove that population is an asset for the economy rather than liability. Also give examples to prove that investment in human capital yields a rich return.
Answers
Answer:
(i) some people regard the population as a liability rather than an asset. But it is not true; people can be turned into a productive asset if we invest in them through education, training, and medical care.
(ii) Just as land, water, forests, minerals are our precious natural resources, human beings are also a precious resource. Human beings are not only consumers of national assets they can also be creators of national wealth.
(iii) In fact, human resources are superior to other resources like land and capital because they make use of land and capital. Land and capital cannot be useful on their own.
(iv) We can cite examples of Japan. The country has invested in human resources because it did not have any natural resources. The people have made efficient use of other resources like land and capital. Efficiency and technology evolved by people have made Japan a rich and developed country.
Hope this answer is helpful to you.