CBSE Class 9 Economics Notes Chapter 2 - People as Resource

Chapter 2 – People as Resource is an effort to explain population as an asset for the economy rather than a liability. Population becomes human capital when there is an investment made in the form of education, training and medical care. Human capital is the stock of skill and productive knowledge embodied in them. Here we have provided CBSE Class 9 Economics notes for Chapter 2 to help students grasp concepts quickly and revise thoroughly before the exams. These Economics notes for Class 9 have been designed precisely covering almost all the concepts mentioned in the chapter. Preparing from these notes will help students to fetch excellent marks in their Class 9 Economics exam.

CBSE Class 9 Economics Notes Chapter 2 – People as Resource PDF

Overview

People as Resource is a way of referring to a country’s working people in terms of their existing productive skills and abilities. Like other resources, the population is also considered as human resource. When the existing ‘human resource’ is further developed by becoming more educated and healthy, it is called human capital formation. Investment in human capital (through education, training, medical care) yields a return just like investment in physical capital.

Human capital is superior to other resources like land and physical capital. Total productivity adds to the growth of the economy. Investment in human resource (via education and medical care) can give high rates of return in future. Countries, like Japan, have invested in human resources.

Economic Activities by Men and Women

The activities in Economics are divided into three sectors i.e. primary, secondary and tertiary. Primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, mining and quarrying. Secondary sector includes manufacturing. Tertiary sector includes trade, transport, communication, banking, education, health, tourism, services, insurance, etc. These activities are termed as economic activities. Economic activities have two parts — market activities and non-market activities. Market activities involve remuneration to anyone who performs i.e., activity performed for pay or profit. These include production of goods or services, including government service. Non-market activities are the production for self-consumption. These can be consumption and processing of primary product and own-account production of fixed assets.

There was a division of labour between men and women. Men were paid for their services but to the contrary women were not paid for their services. Education played an important role for individuals to make better use of economic opportunities. Most women used to work in places where there was no job security. In this sector, employment was characterised by irregular and low income. Basic facilities were missing like maternity leave, childcare and other social security systems. However, women with high education and skill formation were paid highly.

Quality of Population

The quality of population depends upon the literacy rate, health of a person indicated by life expectancy and skill formation acquired by the people of the country. It ultimately decides the growth rate of the country and a literate and healthy population were an asset.

Education

Education contributes to the growth of society and enhances the national income, cultural richness and increases the efficiency of governance. Literacy is needed for citizens to perform their duties and enjoy their rights properly. Sarva Siksha Abhiyan, which was introduced in the year 2010 provides elementary education to all children in the age group of 6–14 years. To encourage attendance and retention of children and improve their nutritional status, a mid-day meal scheme was introduced. The 12th plan focused on increasing access, quality, adoption of state-specific curriculum modification, vocationalisation and networking on the use of information technology, distance education, convergence of formal, non-formal, distance and IT education institutions.

Health

Improvement in the health status of the population has been the priority of the country. The National Policy, too, aimed at improving the accessibility of healthcare, family welfare and nutritional service, especially for the underprivileged segment of the population. India over the last five decades has developed its manpower required at primary, secondary and tertiary sector.

Unemployment

In India, we have unemployment in rural and urban areas, though the nature of unemployment differs in rural and urban areas. In rural areas, unemployment was seasonal and disguised. In urban areas, unemployment was educated unemployment. Seasonal unemployment occurred when people were not able to find jobs during a few particular months of the year. In disguised unemployment people appeared to be employed. Educated unemployment became a common phenomenon in urban areas. Unemployment leads to wastage of manpower resource, tends to increase economic overload, has a detrimental impact on the overall growth of an economy. In India, statistically, the unemployment rate is low.

In the primary sector, employment structure is characterised by self-employment. Agriculture is the most labour absorbing sector of the economy. But, in recent years, there has been a decline in the dependence of population on agriculture. Some of the surplus-labour in agriculture has moved to either the secondary or the tertiary sector. In the secondary sector, small scale manufacturing was the most labour absorbing. In case of the tertiary sector, various new services are now appearing like Biotechnology, Information Technology and so on.

To access the notes of Geography, History and Civics of class 9, visit the CBSE Class 9 Social Science Notes page at BYJU’S. Stay tuned for more updates on CBSE and NCERT. Download BYJU’S App and subscribe to YouTube channel to access interactive Maths and Science videos.

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