Question

VI
u you understand by 'people as a resource'?
2. How is human resource different from other resources like land and
capital?
3. What is the role of education in human capital formation?​

Answer 1

Explanation:

1 People as a resource' is a term that means how the population can be an asset and not a liability. It a way of referring to the working class of society in terms of their existing productive skills and abilities. The population becomes human capital when an investment is done in the form of education and training.

2. Human resource is different from other resources in many senses. Human resources need education training and healthcare to develop. On the other hand land and physical capital need money and physical inputs to develop. Land and physical capital are useless without human resources.

3. The role of education in human capital formation are as follows: An educated society facilitate better development program than an illiterate one. Education improves productivity and prosperity, and also improve enriched life experience. ... Education increases national income and other cultural richness.