Question

What is the importance of 'human resource' . Explain how human resource is different from other resource such as land and physical capital

Answer 1

Human resources are those who convert the environment into an useful one . Healthy and literate people contribute to their own societies in the positive ways where as malnourished and illiterate people can't contribute towards their societies. For example people of Japan are educated and literate that is why Japan is considered as a developed and technically advanced country . Where as in spite of being rich in resources Africa is not a developed country as the of those areas are not literate that is why they can't contribute max. to their societies...

Answer 2

Human resource is different from land and physical capital in the following ways:

Human resources are primary sources of production and can make use of land and capital with the help of their skills and technology. Land and capital, the secondary sources of production cannot become useful on their own.

Human resources are active factors of production. They exhibit multiple importance. They are producers as well as consumers.

Human resources can bring changes in other resources. Other resources cannot change or affect human resources.