Q.1 answer the following questions in 52 - 70 words.
A ) How can humans contribute in the growth of the nations?
B) How natural endowments acquire value? Explain with an example.
Q.2 give reasons
A) resources from the backbone of the economy of a nation.
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Human resources development can raise per capita income of the country through increased formation of human capital. Imparting knowledge can improve the productivity of workers and therefore, can raise the per capita income. ii) Answer. Answer: The endowment effect refers to an emotional bias that causes individuals to value an owned object higher, often irrationally, than its market value. 2 I) Yes, resources form the backbone of the economy of a nation. If any country has fertile land then its main economic activity would be agriculture. ... This is how resources form the backbone of the economy of a nation.
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