EMRS | DSSSB TGT SST: ECONOMY CLASS 09: PEOPLE AS RESOURCE

NCERT Class 9 Economics Chapter 2: People as Resource
This chapter focuses on the concept of human resources and how they contribute to the economy. Here’s a detailed summary:

1. Introduction
Human Resources: The chapter introduces the idea of people as a resource, emphasizing that the population of a country can be an asset if properly utilized.

Human Capital: Human capital refers to the stock of skill and productive knowledge embodied in a population. It is developed through education, training, and healthcare.

2. Human Capital Formation
Investment in Human Capital: Just like physical capital (machinery, buildings), investment in human capital (education, health) is crucial for economic growth.

Returns on Investment: Investing in human capital yields returns in the form of a more skilled and productive workforce.

3. Economic Activities
Primary Sector: Includes activities like agriculture, forestry, fishing, and mining.

Secondary Sector: Involves manufacturing and construction.

Tertiary Sector: Comprises services such as trade, transport, banking, education, and health.

4. Market and Non-Market Activities
Market Activities: Economic activities performed for pay or profit, such as working in a factory or running a business.

Non-Market Activities: Activities not performed for pay, such as household chores and volunteering.

5. Role of Education
Importance of Education: Education enhances the skills and productivity of individuals, making them more valuable as human resources.

Quality of Population: The quality of the population is determined by factors like literacy rate, life expectancy, and skill formation.

6. Role of Health
Healthcare: Good health is essential for a productive workforce. Investment in healthcare improves the quality of human resources.

Life Expectancy: A higher life expectancy indicates a healthier population, contributing to economic growth.

7. Unemployment
Types of Unemployment: The chapter discusses various forms of unemployment, such as structural, frictional, and cyclical unemployment.

Impact of Unemployment: High unemployment rates can lead to economic instability and social issues.

8. Economic Activities by Men and Women
Division of Labor: The chapter explores the division of labor between men and women, highlighting how women's contributions are often undervalued.

Economic Participation: Encourages equal participation of men and women in economic activities for balanced growth.

9. Conclusion
Human Resources as Assets: The chapter concludes by reiterating that human resources are valuable assets that can drive economic development if properly developed and utilized.

This chapter emphasizes the importance of investing in human capital to enhance the productivity and economic potential of a country's population.

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