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Economics > People as resources > Flashcards

People as resources Flashcards

1
Q

MEANING OF RESOURCE

A

RESOURCE IS ANYTHING THAT CAN BE USED TO SATISFY A NEED / WANT.
EXAMPLES: WATER, FOREST, SOIL, LAPTOP, ETC.

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2
Q

What are the TYPES OF RESOURCES?

A

Natural
Human-made
Human

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3
Q

Natural Resources

A

Resources that are drawn from nature and used without much modification are known as Natural Resources.

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4
Q

HUMAN MADE RESOURCE

A

People use natural resources to make buildings bridges, roads, machinery, vehicles, etc. These are made by man for various uses and are human made resources.

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5
Q

Human Made Resource

A

It refers to the number (quantity) and ability (mental and physical) of the people.

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6
Q

IMPORTANCE OF HUMAN RESOURCE

A

When the population of a country is given education, training, and medical facilities then it becomes human capital.

Human resource shows its ability to contribute to the creation of the Gross National Product (GNP).

Education, training, and medical facilities added to the quality of labor. This enhances his total productivity and contributes to economic growth.

Human capital is superior to other resources like land and physical capital as human resources can make use of land and capital.

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7
Q

IMPORTANCE OF HUMAN RESOURCE

A

Society also gains indirectly because the advantages of a more educated or healthier population spread to those who themselves were not directly educated or given healthcare.

Improving the quality of people’s skills so that they are able to create more resources is known as Human Resource Development(HRD).

HRD Ministry was created in 1985 to improve people’s skills.

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8
Q

PRIMARY SECTOR

A

Primary sector is concerned with the utilization of raw materials from nature

Includes agriculture, mining, forestry, poultry farming, fishing, hunting and food gathering.

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9
Q

SECONDARY SECTOR

A

Manufactures finished goods.

It uses the output of the primary sector

Includes automobile production, breweries and bottling, construction, shipbuilding, etc.

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10
Q

TERTIARY SECTOR

A

It is also called service sector. It provides services to the general population and business.

The activities include banking, finance, insurance, investment, transportation, information, and communications services, etc.
Services are intangible goods

All the activities under the three sectors result in production of goods and services adding value to national income. These activities are termed as Economic Activities

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11
Q

MARKET ACTIVITES

A

Production activities that involve remuneration to anyone who performs.

Activities performed for pay or profit

For eg. Govt services

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12
Q

Non Market Activities

A

Production of goods and services for self-consumption

Can be consumption and processing of primary product and own account production of fixed assets.

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13
Q

LABOUR DIVISION BETWEEN MEN AND WOMEN

A

WOMEN
-Looks after household activities
-Due to low education and low skilled formation most
-women work in less job security areas.

MEN
-Works in the fields for earning
-Generally paid higher than that of women

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14
Q

QUALITY OF POPULATION

A

Literacy Rate
Health
Skill formation

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15
Q

Literacy Rate

A

It measures the proportion of literate population in the age group of 7 and above

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16
Q

Health

A

Indicated by life expectancy. Life expectancy is the number of years that an average person can expect to live

17
Q

Skill formation

A

Can be acquired by giving training to the labour force. Budget 2020-21 allocated Rs. 3000 crores for skill development.

18
Q

Importance of Education

A

-Important for economic growth
-It is a right and also needed for proper performance of duties
-Contributes to growth of society
-Increases the efficiency of governance
-Promotes cultural richness

19
Q

TRENDS IN EDUCATION SECTOR

A

Literacy rate increased
1951- 18%
2010-11 : 74%

Vast differences observed across different sections
Male literacy rate 16.6% higher than female
The urban literacy rate is 16.1% higher than that of rural areas
The literacy rate in Kerala is 94% and in Bihar, it is 62% according to 2011 census

20
Q

GOVERNMENT ACTION ON EDUCATION

A

Vocational streams developed
Increase expenditure as a percentage of GDP
1950-51 : 0.64
2015-16: 3.0

Budget 2020-21 proposes to provide about Rs. 99300 crores
Schemes launched – SSA (Sarva Siksha Abhiyan) launched in 2001 RMSA (Rashtriya Madhyamik Siksha Abhiyan) launched in March 2009

21
Q

HEALTH

A

-It is not only of absence of disease but also the ability to realise one’s potential
-Indicators of health – Infant Mortality Rate, Death Rate
Improvement in the health of population – a top priority
-Health infrastructure includes – hospitals, doctors, nurses and other paramedical professionals, beds, equipment required in hospitals and well developed pharmaceutical industry
-Should be accessible to all the people

22
Q

Govt action on health facilities

A

NATIONAL HEALTH MISSION
SWACHH BHARAT MISSION
NATIONAL HEALTH POLICY 2017

23
Q

NATIONAL HEALTH MISSION

A

Launched in 2013
To enable equitable, affordable and quality healthcare facilities

24
Q

SWACHH BHARAT MISSION

A

Launched in Oct 2nd 2014
Attaining an open defecation free India

25
Q

NATIONAL HEALTH POLICY 2017

A

Expenditure on health to be increased from 1.15% of GDP to 2.5% of GDP by 2025

26
Q

Unemployment

A

Unemployment is said to exist when people in the age group of 15-59 years is willing to work at the going wage rate but cannot find job

It leads to wastage of manpower

Poverty increases

Tends to increase economic overload

Quality of life and that of society is adversely affected

27
Q

Seasonal unemployment

A

Seasonal unemployment: Seasonal unemployment happens when people are not able to find jobs during some months of the year.

28
Q

Disguised Unemployment

A

: When a work requires the services of five people but engages eight people. Three people are extra. If these three people can be removed without affecting productivity, then these three people are said to be disguisedly unemployed.

29
Q

Educated Unemployment

A

when aperson is educated and he is not able to find a suitable and efficient job, then he is an educated unemployed person.

30
Q

EMPLOYMENT SCENARIO IN THE THREE SECTORS

A

AGRICULTURE
Most labour absorbing sector (54.6% of population acc. To 2011 census)
SECONDARY SECTOR
Small scale enterprise absorbs the most labour force in secondary sector
TERTIARY SECTOR
Share of services in employment in 2014 is 28.7%
Key driver of economic growth

31
Q

EMPLOYMENT GENERATION

A

More investment in agriculture and related activities
Development of infrastructure
Providing of loans

Economics (3 decks)

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