Q and Ans: People As Resources
Chapter: People As Resource Answer the following questions Q. Define Human capital and human capital formation. Name any two sources of human capital formation. Answer: Human capital - When investment is made in the form of education, training and medical care, the quality of population improves and becomes a great asset. It is known as human capital. Human capital formation - When the investment is made in the existing human resource for further development by becoming more educated and healthy is termed as human capital formation. The two sources of human capital formation are education and health. Q. Mention three sectors of economic activities with examples. Answer: The three sectors of economic activities are: 1. Primary sector- It produces goods by exploiting natural resources. It includes agriculture, forestry, mining, animal husbandry and fishing. 2. Secondary sector. It converts all raw material into finished goods such as manufacturing industries and c...