Question

ECONOMICS:-- 2 PEOPLE AS A RESOURCE.
1. What is human capital?
2. Why sakala has better quality of life than vilas?
3. What role does education play towards growth of society.
4. What is meant by unemployment? How many types of unemployment is there. Explain.
5. Why is human resource important for development? Explain.
6. Write a short note on
Physical capital, fixed capital, working capital.​

Answer 1

Answer:

1.skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

2.(iii) Sakal was interested in studies whereas Vilas was not interested in studies. (iv) Sakal did a course in computers and became employed whereas Vilas remained illiterate and was not employed. (v) The condition of Sakal and his family became better whereas Vilas and his family lived in poverty.

3.Education enriches people's understanding of themselves and world. It improves the quality of their lives and leads to broad social benefits to individuals and society. Education raises people's productivity and creativity and promotes entrepreneurship and technological advances.

4.It is defined as the rate of unemployment that still exists when the labour market it in equilibrium, and includes seasonal, frictional and voluntary unemployment. ... The different types of unemployment can be illustrated through the AJ-LF model.

5.Human resources development is important because it is an investment in one's employees that will ultimately result in a stronger and more effective workforce. When an organization develops their employees, they are strengthening their assets and making these employees even more valuable.

6.Physical capital: Physical capital is the variety of inputs required at every stage during production. It includes fixed capital and working capital. ... The tools, machines, buildings which can be used in production over many years are called fixed capital. Working capital: Production requires a variety of raw materials.

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