Very Short Answer lype Questions
2.1. Define human capital.
2.2. When does population become human capital?
2.3. How is human capital superior to land and physical
2.4. Classify human activities.
2. 5. What is the other name of economic activities?
2.6. How does education help people?
2.7. Name any two determinants of the earning of an
Q. 8. Which type of population is a liability for an eco
Q. 9. What do you mean by Infant Mortality Rate?
Q. 10. What is workforce population?
Answers
Answer:
Human capital is an intangible asset or quality not listed on a company's balance sheet. It can be classified as the economic value of a worker's experience and skills. This includes assets like education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.
Population becomes human capital when there is investment made in the form of education, training and medical care. In fact, human capital is the stock of skill and productive knowledge embodied in them.
Human Capital is in one way superior to other resources like land and physical capital: human resource can make use of land and capital but otherwise land and capital cannot become useful on its own.
Human activities can be classified as Economic and Non-Economic Activities.
An economic activity involves the production, distribution and consumption of all goods and services.
A non economic activity in done with no intention of earning a profit or any money.
All professions, occupations, economic agents or economic activities, contribute to the economy. Consumption, saving, and investment are variable components in the economy that determine macroeconomic equilibrium. There are three main sectors of economic activity: primary, secondary, and tertiary.
“Education is the most powerful weapon which you can use to change the world,” as Nelson Mandela said. It helps people become better citizens, get a better-paid job, shows the difference between good and bad. Education shows us the importance of hard work and, at the same time, helps us grow and develop
. Education and skill are the major determinants of the earnings of any individual in the market
- Population becomes human capital when there is investment made in the form of education, training and medical care.