People as Resources Class 9 Notes PDF

People as Resources Class 9 Notes PDF Summary

Greetings to all, today we are going to upload the  People as Resources Class 9 Notes PDF to assist you all. Chapter 2 – People as Resource is an endeavor to explain population as an asset for the economy instead of a liability. Population becomes human capital when there is an acquisition made in the form of teaching, training, and medical care. Human capital is the product of skill and productive knowledge incorporated in them.
Here, we have provided CBSE Class 9 Economics notes for Chapter 2 to assist students to grasp concepts quickly and revise comprehensively before the exams. These Economics notes for Class 9 have been created precisely covering almost all the visions mentioned in the chapter. Preparing from these notes will assist students to convey amazing marks in their Class 9 Economics exam.

People as Resources Class 9 Notes PDF – short Notes

Economic Activities: Economic activities refer to those activities of humans which are undertaken for monetary gain or to satisfy his/her wants. The activities of workers, farmers, shopkeepers, manufacturers, doctors, lawyers, taxi drivers, etc. fall under this category.
Non-Economic Activities: Non-economic activities are ones that are not undertaken for any monetary gain. These are also called unpaid activities, e.g., Puja-paath, housekeeping, helping the poor or disabled, etc.
Classification of Economic Activities: Various economic activities can be classified into three main sectors, that is, primary sector, secondary sector and tertiary sector. The primary sector includes activities like agriculture, forestry, animal husbandry, fishing, poultry, farming and mining. In this sector, goods are produced by exploiting nature. In the secondary sector, manufacturing (small and large) and construction activities are included. The tertiary sector (also called the service sector) provides various types of services like transport, education, banking, insurance, health, tourism, etc.
Market Activities and Non-Market Activities: Economic activities, i.e., production of goods and services can be classified into market activities and non-market activities. Market activities are performed for remuneration. Non-market activities are the activities carried out for self-consumption.
Activities of Women: Women generally look after domestic affairs like cooking of food, washing of clothes, cleaning of utensils, housekeeping and looking after children.
Human Capital: Human capital is the stock of skill and productive knowledge embodied in human beings. Population (human beings) become human capital when it is provided with better education, training, and health care facilities.
People as a Resource: People as a resource is a way of referring to a country’s workforce in terms of their existing skills and abilities.
Human Capital Formation: When the existing human resource is further developed by spending on making the workforce more educated and healthy, it is called Human Capital Formation.
Quality of Population: The quality of population depends upon the literacy rate, life expectancy, and skills formation acquired by the people of the country.
Role of Education: Education is the most important component of Human Resource Development. In view of its contribution towards the growth of the society, government expenditure on education as a percentage of GDP rose from 0.64% in 1951-52 to 3.98% in 2002-03. However, our national goal is 6% of GDP
Health: Health is another very important component of Human Resource Development. The efficiency of workers largely depends on their health.
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