People as Resource

Q50. Discuss the employment scenario in the three sectors of India.

Ans. Agriculture is the most labour absorbing sector of the economy. In recent years, there has been a decline in the dependence of population on agriculture partly because of disguised unemployment discussed earlier. Some of the surplus labour in agriculture has moved to either the secondary or the tertiary sector. In the secondary sector, small scale manufacturing is the most labour absorbing. In case of the tertiary sector, various new services are now appearing like biotechnology, information technology and so on.

Q51. Which capital would you consider the best — land, labour, physical capital and human capital? Why?

Ans. In fact, human capital is in one way superior to other resources like land and physical capital: human resource can make use of land and capital. Land and capital cannot become useful on its own. Countries like Japan have invested in human resource. They did not have any natural resource. These countries are developed/rich countries. They import the natural resource needed in their country. They have invested on people especially in the field of education and health. These people have made efficient use of other resource like land and capital.

Q52. Explain the importance of ‘People as Resource’.

Ans. Importance of ‘People as Resource’

1. 'People as Resource' is a way of referring to a country’s working people in terms of their existing productive skills and abilities.
2. In fact, human capital is in one way superior to other resources like land and physical capital as human resource can make use of land and capital. Land and capital cannot become useful on its own.
3. When the existing 'human resource' is further developed by becoming more educated and healthy, it becomes human capital and adds to the productive power of the country.

Q53. Mention two consequences of unemployment.
Or 
What are the consequences of unemployment?
Or
What are the negative effects of unemployment?

Ans. Consequences of unemployment

1. Unemployment leads to wastage of manpower resource. 
2. People who are an asset for the economy turn into a liability. 
3. There is a feeling of hopelessness and despair among the youth. 
4. People do not have enough money to support their family. 
5. Inability of educated people who are willing to work to find gainful employment implies a great social waste.
6. Unemployment tends to increase economic overload. The dependence of the unemployed on the working population increases.

Q54. Can you suggest some measures in the education system to mitigate the problem of the educated unemployed?

Ans.  Measures in the education system to mitigate the problem of the educated unemployed: 

1. Education system should be made more career-oriented as this will help students to enhance their skill and get better employment opportunity.
2. There should some sort of screening process whereby each student chooses subjects that suit his or her abilities. 
3. Students should be made aware and encouraged about self-employment.

Q55. Differentiate between market and non-market activities.

Ans. Difference between market and non-market activities