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    Unit 2 Eco

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    Unit 2 Eco

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    mailjayane
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    UNIT 2 ECO (1)

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    Unit 2 Eco

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    ECONOMICS

    UNIT 2

    PEOPLE AS A RESOURCE

    Please write questions 1,2 and 4 on your notebooks.

    Question 1.
    Define Human capital and human capital formation. Name any two sources of
    human capital formation.
    Answer:
    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.

    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.

    Question 2.
    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 construction activities.
    3. Tertiary sector. It includes trade, transportation, communication,
    education, health, tourism and insurance etc. It helps in the smooth
    functioning of primary and secondary sectors.

    Question 3.
    Define economic activities. Highlight the two types of economic activities.
    Or
    What is an economic activity? What are the different types of economic activities?
    Answer:
    Economic activities are those activities which add value to the national income. The
    two types of economic activities are:
    1. Market activities. These are those activities which involve
    remuneration to those who perform the activities for wages or profit.
    2. Non-market activities. These activities refer to production activities
    which are performed for self-consumption and processing of primary
    products and own account production of fixed assets.

    Question 4.
    Mention any three features of National Health Policy.
    Answer:
    The three features of National Health Policy are:

    1. It aims at improving the accessibility of healthcare and family welfare.


    2. It aims at improving the nutritional services with special focus on under-
    privileged segment of the population.
    3. It has improved the ratio of nurses, doctors and beds in the country.

    Question 5.
    “Unemployment leads to low income and low savings and hence low demand and
    low production. This is the identification of a depressed economy.” Support the
    statement with three arguments.

    Answer:
    Unemployment has negative effects on the economic development of a
    country in the following ways

    1. It is a wastage of manpower resource. It increases the economic


    overload and the number of dependent on population.
    2. The quality of life of an individual as well as the society is adversely
    affected. There is a feeling of hopelessness among the youth.
    3. The time period lost in the unemployment is an irrecoverable loss. It is
    the loss of productive period and the loss can not be compensated.

    Thus, increase in unemployment is an indicator of a depressed economy.

    Long Answer Type Questions [5 Marks]

    Please write Questions 2,4 and 6 in your notebooks.

    Question 1.
    In what way is human capital superior to other sources like physical capital? How a
    large population is turned into a productive asset? Explain.
    Answer:
    Human capital is superior to other sources like physical capital as it can make use of
    other sources like land and physical capital. Human capital can develop land and
    physical capital according to his skill and education because they could not develop
    on their own.
    A large population is turned into a productive asset by the following ways:

    1. Proper investment in developing skills.


    2. Emphasis on academic and vocational aspects of students.
    3. Making available opportunities accessible to large section of people like
    technological know how.

    Question 2.
    Describe the employment scenario in the three sectors of the economy in India in
    recent years.
    Answer:
    Agriculture is the most labour absorbing absorbing sector sector of the economy. In
    recent years, there has been a decline in the dependence of population on
    agriculture partly because of disguised unemployment. Some of the surplus labour in
    agriculture has moved to secondary or tertiary sectors. Small-scale manufacturing is
    the most labour absorbing sector in secondary sector. The tertiary sector has seen a
    remarkable improvement in its employment in recent years. In this sector, various
    new services are now appearing such as biotechnology, information technology and
    so on.

    Question 3.
    Analyse the role of education in the formation of human capital formation.
    Answer:
    The role of education in human capital formation is as follows:

    1. Educated people earn more than the uneducated people.


    2. Literate population is an asset to an economy.
    3. It leads to higher productivity.
    4. It opens new avenues for a person.
    5. It provides new aspirations and develops values of life. if) It contributes
    to the growth of society.
    6. It enhances the national income, cultural richness and the efficiency of
    the governance.

    Question 4.
    Describe five main features of Sarva Shiksha Abhiyan.
    Answer:
    The five main features of Sarva Shiksha Abhiyan are:

    1. It is a significant step towards providing elementary education to all


    children in the age group of 6-14 years.
    2. It is a time-bound initiative of the central government, in partnership
    with the states, the local government and the community for attaining
    the goal of universalisation of elementary education.
    3. In this, bridge courses and back-to-school camps have been introduced
    to increase the enrolment in elementary education.
    4. Mid-day meal scheme has been introduced to encourage attendance in
    schools and increase their nutritional status.
    5. These type of polices of the government could add to the literate minds
    and further the economic development.

    Question 5.
    Why will a firm not like to employ a worker with ill-health? How does it affect the
    working environment?
    Answer:
    A firm will not like to employ an ill-healthy worker because:

    1. An unhealthy worker would not be able to contribute to the overall


    productivity of an organisation.
    2. An unhealthy worker is a liability rather than an asset for an
    organisation.
    3. An unhealthy worker cannot contribute to the growth of the
    organisation.
    4. An unhealthy worker does not work regularly and remains on leaves due
    to sickness.
    5. It creates a gloomy atmosphere in the surroundings.

    Question 6.
    Describe different types of unemployment found in India.

    Answer:
    The different types of unemployment found in India are:

    1. Disguised unemployment. This is the phenomenon where too many


    workers are working in a specific job. It happens in small agricultural
    farms where the whole family is working on the same farm but so many
    workers are not required to cultivate the farm efficiently.
    2. Seasonal unemployment. It occurs when workers can find work in a
    specific season. For example, agricultural workers may find work only
    during busy agricultural seasons when sowing, harvesting, weeding and
    threshing are done.
    3. Educated unemployment. This type of unemployment is common in
    urban areas. There is unemployment among the educated and
    technically skilled workers because they are not able to find the jobs for
    themselves.

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