Question

Define the following
1) Human Capital
2)Market Activities
3) Non Market Activities
4) Life Expectancy
5) Unemployment
6)Liability
7) Asset
8) Primary Sector
9) Secondary Sector
10) Tertiary Sector

Answer 1

Answer:

Human capital is the stock of skilled and productive work force of a nation.

Unemployment, according to the Organisation for Economic Co-operation and Development (OECD), is persons above a specified age (usually above 15) not being in paid employment or self-employment but currently available for work during the reference period.

The three-sector model in economics divides economies into three sectors of activity: extraction of raw materials (primary), manufacturing (secondary), and services (tertiary)

Answer 2

Answer:

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Explanation:

1. Human capital is unique and differs from any other capital. It is needed for companies to achieve goals, develop and remain innovative.
2. Market activities involve remuneration to any one who performs activity performed for pay or profit.
3. Non market activities are those activities which do not include any financial transactions and done without any intention of earning money or profit.
4. Life expectancy is a statistical measure of the average (see below) time an organism is expected to live, based on the year of its birth, its current age, and other demographic factors including gender. The most commonly used measure is life expectancy at birth
5. Unemployment, according to the Organisation for Economic Co-operation and Development, is persons above a specified age not being in paid employment or self-employment but currently available for work during the reference period
6. the state of being legally responsible for something
7. a useful or valuable thing or person.
8. The primary sector of the economy extracts or harvests products from the earth such as raw materials and basic foods. Activities associated with primary economic activity include agriculture (both subsistence and commercial), mining, forestry, grazing, hunting and gathering, fishing, and quarrying.
9. the sector of the economy concerned with or relating to secondary industry.
10. the sector of an economy concerned with or relating to tertiary industry.