anyone who made marked question answer in book of class 9 ch 2 of economic please send it's urgent
Answers
Answer:
How is human resource different from other resources like land and physical capital?
Answer: Human capital is in one respect preferable to other resources such as land and physical capital: the land and physical capital can be replaced by human resources. Land and physical resources alone can't become useful.
Ques: What is the role of education in human capital formation?
Answer: Educated individuals find jobs in private businesses while uneducated persons do the same work as their parents. Like their parents, they earn a modest income which is only enough to sustain a family. Many years of employment contribute to labor-quality. This increases their overall profitability. Full productivity contributes to economic growth. This in turn pays an individual his / her choice through salary or in some other form. It is a known fact that with investments in education and health, one can generate a high return in the future in the form of higher earnings and greater social contribution.