Human Resource for National Development

 UNIT 4

Human Resources for National Development

1. What were the factors of Production.?

📚 Land, Labour, Capital, 

Entrepreneurship.

2.Reward for the Factors of Production? 

📚 Land - Rent

📚 Labour - Wages

📚 Capital - Interest

📚 Entrepreneurship- Profit.

3 . What do you meant by Economic Resources?

Land, Labour, Capital, Entrepreneurship are the factors of Production. These are also known as Economic Resources.

4.. Factors of Production - Explain.

👉 Land : All the natural resources, like soil and water, are part of the Earth.

👉 Labour : Labour encompasses all intellectual or physical efforts done by

people for reward.

👉 Capital : All man-made resources that aid the production process are capital.

👉 Entrepreneurship : Entrepreneurship is the process of combining land,

capital and labour appropriately to make production possible.

5 . What is Barter System ?

📚 The goods were exchanged for goods. This is known as Barter System.

6 . Write down the disadvantages of the Barter System ?

📚 Difficulty in determining the price of goods

📚 Lack of availability of goods to meet everyone's needs.

📚 Difficulty in exchanging goods.

📚 Unable to obtain desired goods.

7.Evolution of Money. 

Barter Products > Gold > Metal coins > Electronic money > Plastic cards > Paper money. 

 8 . What is Human Resources ?

📚 The term 'Human Resources' denotes people who can work and can be used in the production process.

9. Which age group is likely to have more willingness and ability to work? Why?

📚 According to the Periodic Labour Force Survey (PLFS) Report published by the Government of India in February 2023, the labour force of the country is the population of 15 years of age and above who are willing and able to work. If the number of people belonging to this age structure is high, it positively influences the income and growth of the economy.

10 . How Can human resource are developed ?

📚 It can be improved through education, healthcare & training.

11 . How Can Human capital formation is possible ?

📚 Human capital formation is possible when more investments are made on the above factors to increase productivity.

12 . Human capital and Human capital formation. 

📚 Human capital is the economic value of human resources.

📚 Human capital formation is the additions made over periods of time to the stock of human capital. 

13 . Write down the forms of human capital you are familiar with.. 

👉 Farmers

👉 Teachers

👉 Scientists

👉 Engineers

👉 Doctors

👉 Drivers

14 . How can we strengthen the human capital ?

📚 Provide better health facilities. 

📚 Enable large scale investment in education. 

📚 Emphasize skill development. 

📚 Create an employee - friendly work environment.

📚 Better wages.

📚 Ensure job security. 

15 .List out the Factors Influencing Human Capital Formation. 

👉 Education

👉Health

👉Migration

👉Job Training

👉Access to Information

16. Why do parents give so much importance to education ? 

 What changes does education bring in us.

📚 Through education people can use modern technology effectively.

📚 Acquire better jobs. 

📚 Earn more income. 

📚 Thereby become an asset for the growth of the country.

17. What is health ?

📚 The World Health Organization (WHO) defines '' health as a state of physical, mental and social well-being.'' 

18 . How does declining health affect individual and national development ? 

📚 Decreases productivity

📚 Refrains from work

📚Slows down production 

📚 Causes poverty

📚 Decreasing standard of living. 

📚 Impeding national progress. 

19 . What is Migration? 

📚 Migration is the permanent or temporary movement of people from one region to another region.

20 . How job training increases the productivity ?

📚 Acquiring job training can help increase productivity, thus enabling higher output. Job training will bring human capital formation to its peak.

21. Access to Information

📚 Access to information needs to be fostered to help people gather information 

about the services provided.

📚 Government intervention is essential to enable human capital formation by ensuring the access to information.

22 . Challenges faced by Human Capital Formation.

A) Poverty 

Poverty ➡️ Low income, low purchasing power. ➡️

 ➡️ Scarcity of food, malnutrition, lack of access

to education, chronic illness. ➡️ High infant mortality rate, low life expectancy, increasing number of dependents.  

 ➡️ Low productivity, lack of capacity to work. 

B) Unemployment 

23 .How does unemployment affect our lives ?

📚 Unemployment is a condition in which a healthy and capable person who is willing to work at the prevailing wage rate, cannot find work. 

📚 Lack of opportunities to get employment on par with one's education and skills hinders the maximum utilisation of human resources.

24. What were the various types of unemployment in the country ?

📚 Open unemployment

📚 Structural unemployment

📚 Seasonal unemployment

📚 Disguised unemployment.