Question

 Land, Capital and other factors of production cannot be consumed by their own.

 All resources can only be consumed by humans.

 Humans are the living, active and sensitive source of production.

 Humans are the vital source themselves as they convert various sources into resources with the

help of their knowledge and skill.

 For this they use their previous knowledge and skill.

 The skill of humans and their inherent knowledge and ability to produce are called ‘Human

Capital’.

 Population can be converted into human capital by investing in education, health services and

training in modern technologies and research. Japan is a good example of it.

 By investing in Education, health and skill development the quality of labour increases among

people which results in increasing production.

 People as resource mean the working population (people of the age between 15 years to 59

years) of a country. The productivity, skill and abilities of this working population make the Gross

National Product (GNP) of a country.

 Investment in education, health and skill can produce income and better return to the society in

future.

Questions:-

1. Why are humans called the most important resource of production?

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2. What do you understand by ‘human capital’?

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3. What is the ‘working population’ of a country?

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4. How do the schools, hospitals, colleges and good public facilities affect our lives? Explain with the

examples around you.

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5. Does the investment on human is same as the investment on land and capital? Support your

answer with suitable arguments.
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Answer 1

Answer:

1.People themselves are the most important resource. It is their ideas, knowledge, inventions and discoveries that lead to the creation of more resources. Each discovery or invention leads to many others.

2.Human capital is an or quality not listed on a company's balance sheet. It can be classified as the economic value of a worker's experience and skill

3. 3382000000

4. Public facilities play very important role in the development of a country as these include education, health, transportation, banking which are the base for any kind of development.

Explanation:

i cant able to answer no 5

so pls find it from google

hope other asnwer will help u so pls thanks my all answers