class9 economics chapter 2 people as a resource summary of the lesson
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ᴘᴇᴏᴘʟᴇ ᴀs ʀᴇsᴏᴜʀᴄᴇ ɪs ᴀ ᴡᴀʏ ᴏғ ʀᴇғᴇʀʀɪɴɢ ᴛᴏ ᴀ ᴄᴏᴜɴᴛʀʏ’s ᴡᴏʀᴋɪɴɢ ᴘᴇᴏᴘʟᴇ ɪɴ ᴛᴇʀᴍs ᴏғ ᴛʜᴇɪʀ ᴇxɪsᴛɪɴɢ ᴘʀᴏᴅᴜᴄᴛɪᴠᴇ sᴋɪʟʟs ᴀɴᴅ ᴀʙɪʟɪᴛɪᴇs. ʟɪᴋᴇ ᴏᴛʜᴇʀ ʀᴇsᴏᴜʀᴄᴇs, ᴛʜᴇ ᴘᴏᴘᴜʟᴀᴛɪᴏɴ ɪs ᴀʟsᴏ ᴄᴏɴsɪᴅᴇʀᴇᴅ ᴀs ᴀ ʜᴜᴍᴀɴ ʀᴇsᴏᴜʀᴄᴇ. ᴡʜᴇɴ ᴛʜᴇ ᴇxɪsᴛɪɴɢ ‘ʜᴜᴍᴀɴ ʀᴇsᴏᴜʀᴄᴇ’ ɪs ғᴜʀᴛʜᴇʀ ᴅᴇᴠᴇʟᴏᴘᴇᴅ ʙʏ ʙᴇᴄᴏᴍɪɴɢ ᴍᴏʀᴇ ᴇᴅᴜᴄᴀᴛᴇᴅ ᴀɴᴅ ʜᴇᴀʟᴛʜʏ, ɪᴛ ɪs ᴄᴀʟʟᴇᴅ ʜᴜᴍᴀɴ ᴄᴀᴘɪᴛᴀʟ ғᴏʀᴍᴀᴛɪᴏɴ. ɪɴᴠᴇsᴛᴍᴇɴᴛ ɪɴ ʜᴜᴍᴀɴ ᴄᴀᴘɪᴛᴀʟ (ᴛʜʀᴏᴜɢʜ ᴇᴅᴜᴄᴀᴛɪᴏɴ, ᴛʀᴀɪɴɪɴɢ, ᴍᴇᴅɪᴄᴀʟ ᴄᴀʀᴇ) ʏɪᴇʟᴅs ᴀ ʀᴇᴛᴜʀɴ ᴊᴜsᴛ ʟɪᴋᴇ ɪɴᴠᴇsᴛᴍᴇɴᴛ ɪɴ ᴘʜʏsɪᴄᴀʟ ᴄᴀᴘɪᴛᴀʟ.
ʜᴜᴍᴀɴ ᴄᴀᴘɪᴛᴀʟ ɪs sᴜᴘᴇʀɪᴏʀ ᴛᴏ ᴏᴛʜᴇʀ ʀᴇsᴏᴜʀᴄᴇs ʟɪᴋᴇ ʟᴀɴᴅ ᴀɴᴅ ᴘʜʏsɪᴄᴀʟ ᴄᴀᴘɪᴛᴀʟ. ᴛᴏᴛᴀʟ ᴘʀᴏᴅᴜᴄᴛɪᴠɪᴛʏ ᴀᴅᴅs ᴛᴏ ᴛʜᴇ ɢʀᴏᴡᴛʜ ᴏғ ᴛʜᴇ ᴇᴄᴏɴᴏᴍʏ. ɪɴᴠᴇsᴛᴍᴇɴᴛ ɪɴ ʜᴜᴍᴀɴ ʀᴇsᴏᴜʀᴄᴇ (ᴠɪᴀ ᴇᴅᴜᴄᴀᴛɪᴏɴ ᴀɴᴅ ᴍᴇᴅɪᴄᴀʟ ᴄᴀʀᴇ) ᴄᴀɴ ɢɪᴠᴇ ʜɪɢʜ ʀᴀᴛᴇs ᴏғ ʀᴇᴛᴜʀɴ ɪɴ ғᴜᴛᴜʀᴇ. ᴄᴏᴜɴᴛʀɪᴇs, ʟɪᴋᴇ ᴊᴀᴘᴀɴ, ʜᴀᴠᴇ ɪɴᴠᴇsᴛᴇᴅ ɪɴ ʜᴜᴍᴀɴ ʀᴇsᴏᴜʀᴄᴇs.