Class 9 Economics Chapter 2 Extra Questions and Answers People as Resource

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Class 9 Economics Chapter 2 Extra Questions and Answers People as Resource

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Very Short Answers Type

Question 1.
When does population become human capital?
Answer:
Population becomes human capital when there is investment made in the form of education, training and medical care.

Question 2.
What is human capital?
Answer:
The skills, knowledge, and experience possessed by an individual or population improve the quality of the individual or the population and thus turn them into a great asset. This is known as human capital.

Question 3.
What is called human capital formation?
Answer:
When the existing human resource is further developed by becoming more educated and healthy, we call it human capital formation. It adds to the productive power of the country.

Question 4.
What does society gain through more educated and healthier people?
Answer:
The advantages of a more educated or healthier population spreads to those also who themselves were not directly educated or given health care.

Question 5.
How is human capital superior to other resources like land and physical capital?
Answer:
Human resource can make use of land and capital. Land and capital cannot become useful on its own.

Question 6.
What enhanced the total productivity of Sakai?
Answer:
Several years of education added to the quality of labour. This enhanced his total productivity.

Question 7.
Mention the various activities undertaken in the primary sector?
Answer:
Activities such as agriculture, forestry, animal husbandry, fishing, poultry farming, mining and quarrying are undertaken in the primary sector.

Question 8.
What are economic activities also called?
Answer:
Economic activities are also called market activities.

Question 9.
Mention one difference between market activities and non-market activities.
Answer:
Market activities involve remuneration to anyone who performs i.e. activity performed for pay or profit. Non-market activities are the production for self- consumption.

Question 10.
What do you mean by ‘division of labour between men and women in the family’?
Answer:
Women generally look after domestic chores and men work in the fields. In this way the work of a family is divided between men and women which is called division of labour.

Question 11.
How are illiterate and unhealthy population viewed in a nation’s economy?
Answer:
Illiterate and unhealthy population are viewed as a liability in a nation’s economy.

Question 12.
What are the two factors the quality of population depends upon?
Answer:
The two factors upon which the quality of population depends are—literacy rate, health of a person indicated by life expectancy and skill formation acquired by the people of the country.

Question 13.
What does education contribute towards the growth of society?
Answer:
Education enhances the national income and cultural richness. It also increases the efficiency of governance.

Question 14.
What is the goal behind development of vocational streams?
Answer:
Vocational streams have been developed to equip large number of high school students with occupations related to knowledge and skills.

Question 15.
What is Sarva Siksha Abhiyan?
Answer:
Sarva Siksha Abhiyan is a significant step towards providing elementary education to all children in the age group of six to fourteen years by 2010.

Question 16.
What is the aim of mid-day meal scheme?
Answer:
The aim of mid-day meal scheme is to encourage attendance and retention of children and improve their nutritional status.

Question 17.
What do you mean by Infant Mortality Rate?
Answer:
Infant Mortality Rate is the death of a child under one year of age.

Question 18.
What was the expenditure percentage of GDP in 1951-52 on education?
Answer:
The expenditure percentage of GDP in 1951-52 on education was 0.64%.

Question 19.
What is seasonal unemployment?
Answer:
Seasonal unemployment happens when people are not able to find jobs during some months of the year. People dependent upon agriculture usually face such kind of problem.

Question 20.
What is the literacy rate of India as per the Census of 2011?
Answer:
As per the Census of 2011, the literacy rate of India is 74%.

Question 21.
What is vocational education?
Answer:
Vocational educational refers to as career education or technical education. This type of education . prepares people to work in a trade, in a craft, as a technician, etc.

Question 22.
What is the indicator of good quality of life?
Answer:
An increase in longevity of life is an indicator of good quality of life marked by self-confidence.

Question 23.
What is disguised unemployment?
Answer:
In disguised unemployment people appear to be employed. This usually happens among family members engaged in agricultural activity. The work requires the service of five people but engages eight people. Three people are extra who can be called disguisedly unemployed.

Question 24.
What is meant by educated unemployment?
Answer:
Educated unemployment usually occurs in cities where there are educated or technically qualified people but no job opportunities available to them.

Question 25.
In primary sector, which is the most labour absorbing sector?
Answer:
Agriculture is the most labour absorbing sector of the economy.

Question 26.
In recent years, there has been a decline in the dependence of population on agriculture. Why?
Answer:
It is because some of the surplus labour in agriculture has moved to either the secondary or the tertiary sector.

Question 27.
Name any two new services that have appeared in the tertiary sector.
Answer:
Biotechnology and information technology.

Question 28.
What is the full form of GDP?
Answer:
The full form of GDP is Gross Domestic Product.

Question 29.
What do you mean by birth rate?
Answer:
Birth rate is the number of babies born there for every 1,000 people during a particular period of time.

Question 30.
What do you mean by death rate?
Answer:
Death rate is the number of people per 1,000 who die during a particular period of time.

Question 31.
In which sector is disguised unemployment mostly found?
Answer:
Disguised unemployment is mostly found in agricultural sector.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Short Answers Type

Question 1.
How did countries like Japan become rich/developed?
Answer:
Countries like Japan do not have any natural resources.’In spite of that they are developed/rich countries. They import the natural resources needed in their country. They became rich because they invested on people especially in the field of education and health. These people have made efficient use of other resources like land and capital. Efficiency and the technology evolved by people have made these countries rich/developed.

Question 2.
How can the large population of India be turned into a productive asset?
Answer:
(i) India is a vast country with a large population. But it (large population) need not be a liability. It can be turned into a productive asset by investment in human capital by spending resources on education and health for all

(ii) Training of industrial and agricultural workers in the use of modern technology and scientific researches, etc can contribute a lot in turning the population into an asset.

(iii) Investment in human resource via education and medical care can give high return in future. Education adds to the quality of labour which ultimately enhances the total productivity. Total productivity adds to the growth of the economy.

Question 3.
Why do educated parents invest more heavily on their children’s education?
Answer:
(i) Educated parents are found to invest more heavily on the education of their child. This is because they have realised the importance of education for themselves. They are also conscious of proper nutrition and hygiene.

(ii) They accordingly look after their children’s needs for education at school and good health. They know that education adds to the quality of labour which ultimately enhances their children’s total productivity.

(iii) They are equally concerned with their children’s health and do their best for it. Health is an indispensable basis for realising one’s well-being. Needless to say that a child with investment made on her education and health can yield a high return in the future in the form of higher earnings and greater contribution to society.

Question 4.
What are the main objectives of Sarva Siksha Abhiyanl
Answer:
Sarva Siksha Abhiyan is a time bound initiative of the central government, in partnership with the states, local government and the community for achieving the goal of elementary education.
Its main objectives of are given below:

  • To provide elementary education to all children in age group of six to fourteen years by 2010.
  • To increase the enrolment in elementary education by establishing back-to-school camps.
  • To encourage attendance and retention of children and improve nutritional status.

Question 5.
What is the National Health Policy of India?
Or
Mention some of the features of National Health Policy.
Answer:
(i) Improvement in the health status of the population has been the priority of the country. Our national policy, too, aims at improving the accessibility of health care, family welfare and nutritional service with a special focus on the underprivileged segment of population.

(ii) Over the last five decades India has built up a vast health infrastructure and has developed man power required at primary, secondary and tertiary sector in Government as well as in the private sector.

(iii) Adopotation of these measures have increased the life expectancy to over 66 years in 2011. Infant mortality rate has also come down from 147 in 1951 to 42 in 2012. Increase in longevity of life is an indicator of good quality of life marked by self-confidence.

Question 6.
How are children of educated parents different from those of uneducated parents?
Answer:
The following points make it clear how children of educated parents are different from those of uneducated parents:

Children of educated parents Children of uneducated parents
1. Since educated parents know the importance education, so they invest heavily on the education of their children. 1. Uneducated parents are unaware of the importance of education. So they do not give much attention to their children’s education.
2. These children are physically strong and healthy. They can acquire good education and in future can earn higher incomes. 2. These children lack physical strength. They cannot do any work efficiently. Their earning capacity is also low.
3. Their education adds to the quality of labour which enhances their total productivity. Total productivity adds to the growth of the economy. They are an asset. 3. These children sans education and good health become liability for the nation’s economy.

Question 7.
‘Statistically, the unemployment rate is low in India.’ Explain.
Answer:
A large number of people represented with low income and productivity are counted as employed. They appear to work throughout the year but in terms of their potential and income, it is not adequate for them. The work they are pursuing seems forced upon them. They may, therefore, want other work of their choice. Poor people cannot afford to sit idle. They tend to engage in any activity irrespective of its earning potential. Their earning keeps them on a bare subsistence level.

Question 8.
What are the objectives of the eleventh five-year plan with regard to education?
Answer:
The objectives of the eleventh five-year plan with regard to education Eire given below:

  • The eleventh five-year plan endeavoured to increase the enrolment in higher education of the 18 to 23 years age group to 15% by 2011—12 and to 21% by twelfth plan.
  • The strategy focuses on increasing access, quality adoption of states-specific curriculum modification, vocationalisation and networking on the use of information technology.
  • The plan also focuses on distant education, convergence of formal, non-formal, distant and IT education institutions. Over the past fifty years, there has been a significant growth in the number of universities and institutions of higher learning in specialised areas.

Question 9.
How does investment in human resource give higher return in future?
Answer:
Investment in human resource (through education, training, medical care) yields higher return just like investment in land and capital. This can be seen directly in the form of higher incomes earned because of higher productivity of the more educated or the better trained persons, as well as the higher productivity of healthier people.

Not only do the more educated and the healthier people gain through higher incomes, society also gains in other indirect ways because the advantages of a more educated or a healthier population spreads to those also who themselves were not directly educated or given health care. Countries like Japan have become rich and developed without any natural resources because they have invested in human resource.

Question 10.
Why will a firm not like to employ a worker with ill-health? How does it affect the working environment?
Answer:

  • Health is an important factor that affects the productivity of an individual. If health is good, it improves the productive power of the individual but if it is bad then the individual will become a liability to the family and the society.
  • Obviously no firm will like to employ a worker with ill-health. Such a worker will miserably fail to add to the productivity of the organisation. The organisation will be at great loss if it overlooks the health of its employees at the time of their appointment.
  • No one can deny the fact that the health of a person helps him to realise his potential and the ability to fight illness. Healthy people can do hard work. They avoid to take leaves as they are hale and hearty.

Question 11.
‘The employment structure is characterised by self-employment in the primary sector.’ Explain.
Answer:
Primary sector means agricultural sector where the whole family contributes in the field even though not everyone is really needed. Thus, we find disguised unemployment in this sector. But the entire family shares what has been produced. This concept of sharing of work in the field and the produce raised reduces the hardship of unemployment in the rural sector. But this does not reduce the poverty of the family as a result of which surplus labour from every household tends to migrate to cities in search of jobs.

Question 12.
How have the various activities been classified into sectors? Give one example from each sector.
Answer:
The various activities have been classified into three main sectors i.e., primary, secondary and tertiary.

  • Primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, mining and quarrying.
  • Manufacturing is included in the secondary sector.
  • Trade, transport, communication, banking, education, health, tourism, services, insurance, etc. are included in the tertiary sector.

Question 13.
What is called economic activity? Distinguish between market and non-market activities.
Answer:
The activities that add value to the national income are called economic activities. Economic activities are also called market activities. Market activities differ from non-market activities in the following ways:

Market activities Non-market activities
1. Market activities involve remuneration to any one who performs i.e., activity performed for pay or profit. 1. Non-market activities are the production of goods for self-consumption.
2. These include production of goods or services including government service.
Example: Man working in a private firm or a government sector.		 2. These can be consumption and processing of primary product and own account production of fixed assets.
Example: Subsistence farming.

Question 14.
Define the term unemployment. What are the major types of unemployment prevailing in India?
Answer:
Unemployment is a situation in which a person is willing to work at the going wages cannot find jobs. Four types of unemployment are prevailing in our country. These are:

  • Seasonal unemployment
  • Disguised unemployment
  • Educated unemployment
  • Structural unemployment

Question 15.
Enlist the factors on which the quality of population depends. Also highlight the role of education in enhancing the quality of population.
Answer:
The two factors upon which the quality of population depends are – literacy rate, health of a person indicated by life expectancy and skill formation acquired by the people of the country.

Education plays a very significant role in human capital formation. It is an important input for the growth of an individual. It enables humans to realise their full potential and achieve success in life in the form of higher incomes through better jobs and higher productivity. Education helps individual to make better use of the economic
opportunities available before him.

Education and skill are the major determinants of the earning of any individual in the market. We have seen that a majority of women are paid low compared to men because they have meagre education and skill formation. But women with high education and skill formation are paid at par with the men. So, education is important and it should be imparted to children with great care.

Question 16.
Mention some of the factors responsible for seasonal unemployment.
Answer:
Seasonal unemployment is found in rural areas. People dependant upon agriculture usually face such kind of problem. The factors responsible for this are:

  • Most of India’s rural areas are victims of extreme poverty. Farmers are too poor to practise multiple cropping which requires labour all the time. So, there will be no chance of seasonal unemployment.
  • Lack of small scale industries/cottage industries in rural areas is also a prime factor for seasonal unemployment. These industries will play a valuable role in providing employment to those villagers who are out of work during off season.
  • Commercial agriculture in India is practised on a limited scale. Its expansion will end the scope of seasonal unemployment.

Question 17.
What is Mid-day Meal scheme? What was the purpose behind launching this scheme?
Answer:
The Mid-day Meal scheme is a school meal programme of the Government of India. It was launched in 1995. The programme supplies free lunches on working days for children in primary and upper primary classes in government, government-aided, local body, madarsa etc. It was launched to

  • encourage attendance and retention of children in schools.
  • improve the nutritional status of school-age children nationwide.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Long Answers Type

Question 1.
What has the government of India done to literate the population of the country?
Or
Give the initiatives taken by the Government to improve elementary education in India.
Answer:
In order to literate the population of the country, the Government of India has taken several measures. Some of them are given below:

  • There is Sarva Siksha Abhiyan to provide elementary education to all children in the age group of six to fourteen years. It is a time-bound initiative of the central government, in partnership with the state, the local government and the community for achieving the goal of universalisation of elementary education.
  • Along with it, bridge courses and back-to-school camps have been initiated to increase the enrolment in elementary education.
  • Mid-day Meed Scheme has been implemented to encourage attendance and retention of children and improve their nutritional status.
  • Navodaya Vidyalayas have been opened in each district as ideal schools, whose facilities and methods can be followed by other schools. Importance is also given to vocationalisation and networking on the use of information technology.

Question 2.
Describe how the nature of unemployment differs in rural and urban areas.
Answer:
(i) The nature of unemployment sharply differs in rural and urban areas. In rural areas of India, there is seasonal and disguised unemployment. Urban areas have mostly educated unemployment.

(ii) Seasonal unemployment happens when people are not able to find jobs during some months of the year. People dependant on agriculture usually face this type of unemployment.

(iii) In case of disguised unemployment, people appear to be employed. They have agricultural plots where they find work. This usually happens among family members engaged in agricultural activity. The work requires the service of five people but engages eight people. Three people are extra and are disguisedly unemployed.

(iv) In urban areas, educated unemployment has become a common phenomenon. Many youth with matriculation, graduation and post-graduation are not able to find job.

(v) Unemployment is also found among technically qualified persons. These persons in spite of having technical degrees fail to find suitable jobs. This leads to frustration among them.

Question 3.
Mention some harmful effects of unemployment.
Answer:
Unemployment is a serious problem which needs to be eradicated soon. There are several harmful effects of this problem. Some of them are given below:
(i) Unemployment leads to wastage of manpower resources. People who are an asset for the economy turn into a liability.

(ii) There is a feeling of hopelessness and despair among youth. People do not have enough money to support their family. Inability of the educated people who are willing to work to find gainful employment implies a great social waste.

(iii) Unemployment tends to increase economic overload. The dependence of the unemployed on the working population increases which is very depressing for a country.

(iv) The quality of life of an individual as well as of society is adversely affected. When a family has to live on a bare subsistence level there is a general decline in its health status and rising withdrawal from the school system.

(v) Increase in unemployment is an indicator of a depressed economy. It also wastes the resource, which could have been gainfully employed.

Question 4.
Define the following terms:
(i) Gross National Product
(ii) Gross Domestic Product
(iii) Virtuous Cycle
(iv) Vicious Cycle
(v) Economic Overload
Answer:
(i) Gross National Product: GNP is a measure to value what the country’s citizens produce in a given year.

(ii) Gross Domestic Product: GDP is a measure to value the total final production in a country in a given year.

(iii) Virtuous Cycle: A virtuous cycle has favorable results. Some educated parents invest heavily on the education of their child. They are also conscious of their proper nutrition and hygiene. Several years of education enables their child to earn more. A virtuous cycle is thus created in this case.

(iv) Vicious Cycle: A vicious cycle has detrimental results. Such a cycle may be created by disadvantaged parents who, themselves uneducated lacking in hygiene, keep their children in a similar disadvantaged state.

(v) Economic Overload: Unemployment tends to increase economic overload. When dependence of the unemployed on the working population increases, it increases economic overload.

Question 5.
‘Illiterate and unhealthy population are a liability for the economy.’ Justify the statement with suitable examples.
Answer:
Illiterate and unhealthy population are a great liability for a country’s economy. Several reasons can be given in this regard:
(i) Since the population is illiterate and physically weak, it is unable to use land and capital efficiently. This will retard the growth of the country. Such a population miserably fail to contribute positively.

(ii) People sans education and health earn meagre income. No organisation is ready to give them work because it is fully aware of their incapability of doing work.

(iii) Wherever they are, they have to depend on others for this purpose or that. Since they can do only menial work, they lead a very hard life. They have no aspirations and spend all their life in struggles for keeping their body and soul together.

(iv) We have seen that uneducated parents lack in hygiene and keep their children in similar disadvantaged state. They do not send their children to school as a result of which they become a liability. Like their parents they too do not add to the growth of the economy.

(v) Uneducated and unhealthy population make their country poor because of their low productivity. They are really a great burden on the society and the nation. Such a population need to be turned into a productive asset by investment in human capital.

Question 6.
Describe unfavourable effects of population growth in a country like India.
Answer:
India is a large country with a huge population. This population can be turned into a productive asset by investment in human capital through education, training and medical care but in a country like India it is a little bit difficult task. And therefore, this huge population is not considered good for the country’s economic development. Some of the unfavourable effects of population growth are given below:

(i) Since India is not a developed country, it is difficult to turn the huge population into a productive asset. It means a large segment of the population is a liability which is a big hindrance in the country’s development.

(ii) A fast growth in population means a large number of persons coming to the labour market for whom it may not be possible to provide employment. This will create a problem of unemployment which retards the development of the nation.

(iii) The large size of population also reduces per capita availability of capital in less developed countries like India. A rapidly growing population leads to a progressive decline in the availability of capital per worker. This further leads to lower productivity and diminishing returns.

(iv) Population growth if not checked creates food problem. Food scarcity affects economic develop-ment in two respects— firstly, it leads to undernourishment of the people which lowers their productivity and secondly, it paves the way for importing food grains which is not a good sign for a country’s economy.

(v) Population growth also leads to illiteracy and poverty. Uneducated and poor parents keep their children in a similarly disadvantaged state. When they grow up, they too become a liability to the family and the nation.

Question 7.
Give the main features of Sarva Siksha Abhiyan.
Or
Write a note on Sarva Siksha Abhiyan.
Answer:
Sarva Siksha A6 hiyan is an Indian Government programme aimed at the universalisation of elementary education in a time bound manner. It has been operational since 2000-2001. The main features this movement are given below:

(i) SSA aims at changing in the current school system in order to improve the quality of the education provided in the country.

(ii) The SSA programme is also an effort to provide an equal opportunity for children to grow and develop knowledge and skills through the community-owned quality education system.

(iii) The main mission of SSA is to provide useful and relevant elementary education for all children in the 6 to 14 age group by 2010. SSA means remove all social, regional and gender disparities in the education system through the active participation of the community.

(iv) Along with universalisation of elementary education, bridge courses and back-to-school camps have been initiated to increase the enrolment in elementary education.

(v) Mid-day Meal Scheme has been implemented to encourage attendance and retention of children and improve their nutritional status.

Question 8.
What are the factors responsible for unemployment in India?
Answer:
Unemployment has emerged as a major national issue during the last many decades and it has been increasing day by day. There are several factors responsible for this problem:

(i) India is a large country with a huge population. A fast growth in population means a large number of persons coming to the labour market for whom it may not be possible to provide employment. This will create a problem of unemployment which retards the development of the nation.

(ii) People are heavily dependent on agriculture. This sector is characterised by seasonal and disguised unemployment. People are busy during certain months. Afterwards they become out of work. This sector is also labour absorbing. We find more people engaged in a certain work than required.

(iii) There are many educated persons who do not want to work in the villages. They run to cities in search of jobs but most of them fail to find any suitable position for themselves. This has also given rise to unemployment.

(iv) With the advent of automatic machines, employment opportunities have declined. This is also a major factor for unemployment. Potters, weavers and many others who were previously engaged in their traditional occupations are facing grim situation.

(v) Cottage and village industries which can absorb most of our unemployed youth have been badly neglected. There is focus only on big multi-crore industrial projects. This is also a main reason of unemployment in India.

Question 9.
How can we tackle the problem of unemployment? Give some suggestions.
Answer:
Unemployment is a serious issue for all of us. This problem needs to be tackled wisely. Some of the suggestions given in this regard are:
(i) Our population is increasing rapidly. But employment opportunities have not increased accordingly. So the rise in population must be controlled in order to end this problem.

(ii) India is predominantly an agriculture country. There is no dearth of raw materials here. We must make our country an industrial country if we wish to control the mounting pressure of unemployment.

(iii) Over-dependence on agriculture should be stopped by establishing more and more cottage and small scale industries in our villages. These not only help in creating employment opportunities but also check the rate of migration from rural to urban areas.

(iv) Vocational and skill-based education should be encouraged in every part of the country. This will prove a significant step in removing the problem of unemployment.

(v) Educated youth should be encouraged to set up their own enterprises. It can also generate employment for many others. Our present Government is giving much importance to this.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Higher Order Thinking Skills (HOTS) Questions

Question 1.
Mention the measure steps taken by the government in the field of education.
Answer:
Our government has been very active in the field of education. It has taken several steps towards in this regard:

  • There is a provision made for providing universal access, retention and quality in elementary education with a special emphasis on girls.
  • There is also an establishment of pace setting of schools like Navodaya Vidyalaya in each district.
  • Vocational streams have been developed to equip large number of high school students with occupations related to knowledge and skills.
  • The plan outlay on education has increased from ₹ 151 crore in the first plan to ₹ 3766.90 crore in the eleventh plan.

Question 2.
‘Increase in unemployment is an indicator of a depressed economy.’ Explain.
Answer:
It is a truth that increased unemployment indicates a depressed economy. People having no employment turn into a liability. There is a feeling of hopelessness and despair among the youth. People do not have money to support their family. Inability of educated people who are willing to work to find gainful employment implies great social loss.

Unemployment tends to increase economic overload. Quality of life is adversely affected due to unemployment. When a family has to live on a bare subsistence level there is a general decline in its health status and rising withdrawal from the school system.

Hence, unemployment has a detrimental impact on the overall growth of an economy. Increase in unemployment is an indicator of a depressed economy. It also wastes the resource, which could have been gainfully employed. If people cannot be used as a resource they naturally appear as a liability.

Question 3.
Distinguish between the working conditions of an educated and uneducated women.
Answer:
The working conditions of an uneducated women are sharply different from those of the educated women in the following ways:

Educated women Uneducated women
1.They usually work in the organised sectors where they avail job security and other basic facilities. 1. They find work in the unorganised sectors where they are exploited by the hand of their employer.
2. They are expected work only a fixed number of hours. If they work more, they have to be paid overtime by the employer. 2. Their working hours are not fixed. Even though they work more, they are not paid overtime.
3. They get high salary. They also get paid leave and payment during holidays. 3. They earn a meagre salary. They also do not avail the benefits of paid leave, leave due to sickness, etc.
4. They avail a safe working environment. They are not exploited as they are highly educated. 4. They have to work under highly unsafe environment. The employer exploit them as they are not educated and aware.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Value-based Questions (VBQs)

Question 1.
Classify various activities into three sectors. How are these activities important?
Answer:
The various activities have been classified into three main sectors i.e., primary, secondary and tertiary.

  • Primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, mining and quarrying.
  • Manufacturing is included in the secondary sector.
  • Trade, transport, communication, banking, education, health, tourism, services, insurance, etc. are included in the tertiary sector.

All these activities are important because they add value to the national income. They generate employment opportunities and thus contribute in reducing the problem of unemployment.

Question 2.
What values are associated with human capital?
Answer:
Values associated with human capital are:

  • It adds to the productive power of the country.
  • It can make use of land and capital. Land and capital cannot become useful on its own. Thus, it is superior to other resources.
  • It contributes in the growth of family and society.

Question 3.
How is a virtuous cycle created by educated parents?
Answer:
Educated parents are more concerned for their child’s future than uneducated parents. As they know the importance of education, they are found to invest more heavily on the education of their child. They are also conscious of proper nutrition and hygiene. They accordingly look after their children’s need for education at school and good health.

A virtuous cycle is thus created by educated parents. This cycle is repeated one generation after another. On the contrary, disadvantaged parents because of their illiteracy and poor knowledge of hygiene, keep their children in a similarly disadvantaged state. By not investing on their children’s education and health, they create a vicious cycle.