CBSE Class 9 Economics Notes Chapter 2: An attempt is made to explain how the population

is a resource for the economy rather than a liability in Chapter 2, "People as Resource." When
money is invested in healthcare, education, and training, the population turns into human
capital. Human capital refers to the pool of abilities and useful information that individuals
possess.

Here are the CBSE Class 9 Economics notes for Chapter 2 to aid students in swiftly
understanding the material and completing a comprehensive revision prior to the test. These
well crafted Economics notes for Class 9 cover nearly every topic covered in the course.
Students who use these notes as a study guide will score highly on the Class 9 Economics
exam.

CBSE Class 9 Economics Notes Chapter 2 Overview

The population as an asset is one of the topics covered in Chapter 2 of the CBSE Class 9
Economics curriculum, "People as Resource." The populace becomes human capital when
investments are made in training, education, and health care. All of the key ideas covered in this
chapter are included in the revision notes PDF, which can be found on the website.

Experts have carefully chosen the revision material to help students gain a deeper
understanding of Economics and its attributes. The revision notes are created with the CBSE
Board standards and the necessity for students to facilitate quicker revision in mind. Students
can therefore dependably contact them and benefit from receiving high grades.

Get started studying whenever and wherever you choose by downloading the free printable
PDF edition of the Class 9 Revision Notes.

CBSE Class 9 Economics Notes Chapter 2

The phrase "people as resource" describes the labour force of a nation in terms of their current
pool of productive talents and abilities. The population is regarded as a human resource, just as
other resources. Human capital formation is the process by which an already-existing "human
resource" is enhanced through increased health and education. Just like an investment in
physical capital, an investment in human capital (by education, training, and medical care)
yields a return.

Compared to other resources like land and physical capital, human capital is superior. Overall
productivity contributes to economic growth. Future returns on investments made in human
resources (via healthcare and education) can be very high. Japan is one nation that has made
investments in its human capital.
Economic Activities by Men and Women

The three sectors of economics activity are primary, secondary, and tertiary. Agriculture, forestry,
fishing, animal husbandry, poultry farming, mining, and quarrying are all included in the primary
sector. Manufacturing is a part of the secondary sector.

Trade, transportation, banking, education, health, tourism, services, insurance, and so forth are
all included in the tertiary sector. We refer to these endeavours as economic activities. Market
and non-market activities make up the two categories of economic activity. All performers in
market activities receive compensation, whether they work for profit or for salary.

The manufacturing of goods or services, including those provided by the government, is one of
these. Production for one's own consumption is considered a non-market activity. These include
the production of fixed assets on an own-account basis as well as the consumption and
processing of primary products.

There existed a labour division based on gender. On the other hand, women were not
compensated for the services that males performed. Getting an education is crucial for people
to take advantage of economic prospects. The majority of women used to work in environments
with unstable employment. Employment in this industry was typified by poor remuneration and
irregularity. Maternity leave, child care, and other social security systems were among the basic
amenities that were absent. On the other hand, women with advanced degrees and skill sets
were compensated well.

Quality of Population

The country's life expectancy and the level of skill development its citizens have attained are
key indicators of an individual's health and literacy rate. It ultimately determines the nation's
growth pace, and having a healthy, literate populace is advantageous.

Education

Education makes society more cohesive, raises national GDP, enriches culture, and improves
governance effectiveness. Citizens must be literate in order to adequately carry out their
responsibilities and exercise their rights. All children between the ages of 6 and 14 receive
elementary education through the Sarva Siksha Abhiyan, which was launched in 2010.

A midday meal programme was established to promote children's attendance and retention as
well as to enhance their nutritional health. The objectives of the 12th plan were to improve
quality, accessibility, and the implementation of state-specific curriculum modifications. It also
aimed to increase vocationalization, networking, and the use of information technology for
distant education, formal and non-formal education, and IT education.

Health
The nation has prioritised improving the general health of its citizens. Additionally, the National
Policy sought to increase access to family welfare, healthcare, and nutrition services,
particularly for the less fortunate population. India has grown the workforce needed in the
primary, secondary, and tertiary sectors over the past 50 years.

Unemployment

Both rural and urban areas in India have unemployment, however the type of unemployment
varies depending on the location. Unemployment in rural areas was covert and seasonal. In
cities, joblessness was accompanied by education. People experience seasonal unemployment
when they are unable to find work in a few certain months of the year. People who were
ostensibly employed were hiding their unemployment.

In metropolitan places, educated unemployment has become a typical occurrence. Wasted

labour resources result from unemployment, which also tends to exacerbate economic
overburden and hinders an economy's ability to grow as a whole. According to statistics, India
has a low unemployment rate.

Self-employment is a defining feature of the employment structure in the primary sector. The
industry that uses the most workers is agriculture. Nonetheless, the population's reliance on
agriculture has decreased recently. A portion of the agricultural labour excess has been
transferred to the secondary or tertiary sectors. The secondary sector's most labor-intensive
industry was small-scale manufacturing. Biotechnology, information technology, and other
innovative services are currently emerging in the tertiary sector.

Benefits of CBSE Class 9 Economics Notes Chapter 2

CBSE Class 9 Economics Notes for Chapter 2 "People as Resource" provide several benefits to
students studying this topic:

Understanding Human Capital: The notes explain the concept of human capital, emphasizing
how people contribute to economic development through their skills, knowledge, and abilities.

Importance of Education and Health: They highlight the crucial role of education and
healthcare in enhancing human capital and improving productivity.

Population Growth and Development: The notes discuss the relationship between population
growth, education, and economic development, helping students grasp demographic trends and
their impact.

Employment and Unemployment: They analyze the factors influencing employment and
unemployment rates, providing insights into labor market dynamics.

Role of Government Policies: Notes may outline government policies and initiatives aimed at
improving human capital, such as education reforms and healthcare programs.
Comparative Analysis: They often include comparisons between different countries or regions,
illustrating how investments in human capital affect economic outcomes.

Real-Life Examples: By citing examples and case studies, the notes illustrate how individuals
contribute to economic growth and development in various sectors.

Graphical Representation: Some notes use graphs and charts to visualize concepts like
population trends, literacy rates, and workforce participation, making the information more
accessible and memorable.

Critical Thinking: They encourage critical thinking by posing questions and discussing
implications of human capital development on national economies.

Preparation for Exams: Notes typically summarize key points, definitions, and potential exam
questions, aiding students in efficient revision and exam preparation.