Question-1
What do you understand by ‘people as a resource’?
Solution:
‘People as Resource’ is a way of referring to a country’s working people in terms of their existing productive skills and abilities. Human resource is an asset for the economy rather than a liability. 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.
Question-2
How is human resource different from other resources like land and physical capital?
Solution: Human resources are different from other resources like land and physical capital because human beings can use other resources to give out productive output. However, resources like land and physical capital are dependent on human resource for their use and cannot give any productive output all by themselves.
Question-3
What is the role of education in human capital formation?
Solution: Educated people find jobs in private firms while the uneducated people continue with the same work as their parents. They earn a meagre income like their parents, which is just enough to support a family. Several years of education adds to the quality of labour. This enhances their total productivity. Total productivity adds to the growth of the economy. This in turn pays an individual through salary or in some other form of his choice. It is a known fact that with investments made on education and health; one can yield a high return in the future in the form of higher earnings and greater contribution to society.
Question-4
What is the role of health in human capital formation?
Solution: Health plays a very important role in human capital formation in the following ways:
- If an individual is healthy, he or she may have better immunity to fight illness.
- Being healthy will also increase the overall outcome of an individual.
- The health of an individual is directly proportional to the work he does. Thus better health will increase efficiency.
The above-mentioned points prove that if better health care measures are taken up, and an individual in a country becomes more healthy, the human capital and productivity will also increase.
Question-5
What part does health play in the individual’s working life?
Solution: If an individual is healthy, then he or she may be able to give a better outcome in terms of their work lives. The efficiency of a healthy person is higher than that of an unhealthy person. A healthy person can spend more time working in comparison to an unhealthy person. Hence, health plays a very important role in an individual’s working life.
Question-6
What are the various activities are undertaken in the primary sector, secondary sector and tertiary sector?
Solution:
The various activities have been classified into three main sectors i.e., primary, secondary and tertiary. The primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, and mining. Quarrying and manufacturing is included in the secondary sector. Trade, transport, communication, banking, education, health, tourism, services, insurance etc. are included in the tertiary sector.
Question-7
What is the difference between economic activities and non-economic activities?
Solution:
The activities that add value to the national income are called economic activities. They can be divided into two types: market activities and non-market activities. Market activities involve the activities performed for pay or profit, and non-market activities include the production done for self-consumption.
The activities that add no value to the national income are called non- economic activities. The domestic chore is an example of non-economic activities.
Question-8
Why are women employed in low paid work?
Solution:
Women are paid for their work when they enter the labour market. Their earning, like that of their male counterpart, is determined on the basis of education and skill. A majority of the women have meager education and low skill formation and hence women are paid low compared to men. Most women work where job security is not there.
Question-9
How will you explain the term unemployment?
Solution:
Unemployment is said to exist when people are willing to work at the going wages but cannot find jobs.
Question-10
What is the difference between disguised unemployment and seasonal unemployment?
Solution:
Rural areas have cases of both seasonal and disguised unemployment. Seasonal unemployment is when a person is unable to find jobs during a few months of the year. This mostly happens for farmers who are unemployed for a part of the year when no crops are grown.
Disguised unemployment is when people appear to be employed. When the number of people working on agricultural land is higher than the number of people actually required to work, this is considered as an example of disguised unemployment. If a piece of land requires only three people to work on it, but rather five are working on it, the two extra people are an example of disguised unemployment.
Question-11
Why is educated unemployed, a peculiar problem of India?
Solution: Educated unemployment has become a common phenomenon in India. Youths with matriculation, graduation and post-graduation degrees are unable to get jobs in India. This is because the education system in India labels anyone above the age of 18 years eligible to work. This leaves the youth unskilled and ultimately, unemployed. It is important that an individual does not only have a degree but must also be skilled enough to get a job.
Question-12
In which field do you think India can build the maximum employment opportunity?
Solution:
Since agriculture is the backbone of India, India can build maximum employment opportunities in agriculture-based industries.
Question-13 Can you suggest some measures in the education system to mitigate the problem of educated unemployed? Solution: Some measures that can be taken in the education system to mitigate the problem of educated unemployed are as follows:
- Make secondary level education more career-oriented. This practice will not just help individuals get an education but also enhance their skills and get better employment opportunities.
- An individual should be able to choose the subjects that suit his or her abilities.
- New subjects and fields of study should be introduced at the school level, which can be opted a career in the future. This will open an opportunity for students to plan their future options at school level itself.
Question-14
Can you imagine some village that initially had no job opportunities but later came up with many?
Solution:
Some of the measures in the education system to mitigate the problem of the educated unemployed are:
- Vocational education should be encouraged so that people do not have difficulty getting jobs because they will be better trained for work.
- More use of information technology should be made in giving education.
- Education should be job-oriented.
- More employment opportunities should be made available to the educated people in the tertiary sector.
Question-14
Which capital would you consider the best — land, labour, physical capital and human capital? Why?
Solution: Human capital can be considered to be the best out of the land, labour, physical and human capital. This is because the other resources cannot be used all by themselves, and only humans can use other resources and get productive outcomes from it.
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