Ch 2 People As Resource

Ch 2 People As Resource

People as Resource explores the economic activities of men and women, categorizing them into market and non-market activities. It emphasizes the importance of education and skills in enhancing individual earning potential and societal growth. The document discusses the status of women in the labor market, highlighting disparities in pay and job security. It also examines the three sectors of the Indian economy: primary, secondary, and tertiary, while addressing the quality of the population as a crucial factor in economic development. This resource is ideal for students studying economics at the Grade IX level.

Key Points

  • Explains economic activities categorized into market and non-market sectors.
  • Discusses the significance of education and skill development for economic growth.
  • Analyzes the status of women in the labor market and associated challenges.
  • Describes the three sectors of the Indian economy: primary, secondary, and tertiary.
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  • Alvina Akhlaq
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ECONOMICS NOTES
GRADE IX
Ch-2 PEOPLE AS RESOURCE
Economic Activities by Men and Women
Human beings perform many activities which can be grouped into Economic and Non-Economic.
Education and skill are the major determinants of the earning of any individual in the market.
Economic Activities
i. Market Activities
o Market activities refer to those activities of man/woman which are undertaken
for a monetary gain to satisfy his/her needs.
o The activities of workers, farmers, shopkeepers, manufacturers, doctors,
lawyers, taxi drivers, etc. fall under this category.
ii. Non Market Activite
o Non-Market activities are ones that are not undertaken for any monetary gain.
o These are also called unpaid activities, e.g., Puja in one's own home,
housekeeping, helping the poor, cooking food for the family etc.
Importance of Education
It helps individuals to make better use of economic opportunities available before them.
It contributes towards the growth of society and also enhances the national income,
cultural richness and efficiency of governance.
Measures like Sarva Siksha Abhiyan (SSA), Mid Day Meal Scheme (MDM)
and Right to Education Act (RTE) have been introduced to push education at the
farthest end.
Status of Women
Labour Market
Organised Sector
Meager education and low skills
Work according to Education and Skills
Women are paid low, unequal salaries
Salary according to the government rules and
regulations
Job security is not there
Regular job with security
Legal protection is meager
Legal protection is available
Absence of basic facilities like maternity leave,
child care and other social security systems
Availabilities of Basic facilities like maternity leave,
childcare and other social security systems.
Sectors of Indian Economy
i. Primary sector
o It includes those activities which are directly related to the extraction of natural
resources.
o For example agriculture, forestry, animal husbandry, fishing, and poultry.
Farming and mining
ii. Secondary Sector
o It includes those activities which extract raw materials from the primary sector
and modify them into other useful products.
o For example sugar from sugarcane, manufacturing steel from raw iron, etc.
iii. Tertiary Sector
o It is also called the service sector as it provides the service to the other two
sectors and helps them to flourish.
o For example banking. transportation, communication etc.
Quality of Population
Human Resource (Workable Population)
Population as an asset for the economy rather than a liability.
Population becomes human capital when there is investment made in the form of
education, training and medical care.
Human capital is the stock of skill and productive knowledge embodied in them.
Human capital is in one way superior to other resources like land and physical capital:
they can not become useful on their own.
People As Resource
Productive skills and abilities of a country's working people
Population's ability to contribute to the creation of the Gross National Product.
Population becomes human capital when the investment is made in the form of education, training, and
medical care, then this population is known as Human Resources.
Japan did not have natural resources, but investing in human resources made it a developed and wealthy
country.
The quality of the population depends upon the literacy rate, life expectancy, and skills formation acquired
by the people of the country.
Education is the most important component of human resource development.
Health is another very important component of human resource development. Efficiency of workers largely
depends on their health.
If a person is healthy he would give his maximum output in his working hour resulting growth of economy.
Literacy rate is the percentage of the population of an area at a particular time aged seven years or above
who can read and write with understanding.
Life expectancy is the average period that a person may expect to live.
Birth rate is the number of live babies born per 1000 of population during a year.
Death rate or mortality rate is the number of people die per 1000 of population during a year.
Infant mortality rate is the number of deaths per 1000 live births of children under one year age.
Unemployment
Unemployment: Unemployment is said to exist when people who are willing to work at the prevailing wage
rates cannot find jobs.
Type of Unemployment
i. Seasonal unemployment
o It occurs when people fail to get work during some months of the year (that is,
during off-season). Farm labourers usually face this kind of problem.
ii. Disguised Unemployment
o It refers to a situation where the number of workers in a job is more than actually
required to do the job. The extra number of workers is disguisedly unemployed.
This also can be seen in the agricultural workforce where more than the required
number (say Eight (8) people) of family members are involved in work that
could be done by three (3) people only. This means five (5) people are
disguisedly unemployed as their presence or absence does not matter.
iii. Urban Unemployment
o It occurs when the educated person do not get employment according to its
educational level or has to work below it. Eg. People having a higher degree of
educational qualification do not have work to do or a computer engineering
degree holder is working as data entry operator in a firm.
Impacts of Unemployment
Unemployment leads to wastage of manpower resource.
People who are an asset for the economy turn into a liability.
There is a feeling of hopelessness and despair among the youth.
Unemployment tends to increase economic overload.
Unemployment has a detrimental impact on the overall growth of an economy. An
increase in unemployment is an indicator of a depressed economy.
Unemployment leads to a decline in the health status of individuals and family.
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FAQs of Ch 2 People As Resource

What are the main types of economic activities discussed?
The document categorizes economic activities into two main types: market activities and non-market activities. Market activities are those undertaken for monetary gain, such as jobs in agriculture, manufacturing, and services. Non-market activities, on the other hand, are unpaid and include household chores, volunteering, and caregiving. This distinction helps to understand the various roles individuals play in the economy.
How does education impact economic opportunities?
Education significantly enhances an individual's ability to seize economic opportunities. It equips people with the necessary skills and knowledge to perform effectively in the job market, leading to better job prospects and higher earnings. Furthermore, educated individuals contribute to societal growth, cultural richness, and improved governance. The document highlights initiatives like the Sarva Siksha Abhiyan and Right to Education Act aimed at increasing educational access.
What challenges do women face in the labor market?
Women in the labor market often encounter challenges such as lower wages, job insecurity, and limited legal protections compared to their male counterparts. The document points out that women frequently receive unequal salaries and lack access to essential facilities like maternity leave and childcare. These disparities hinder their economic empowerment and overall contribution to the economy.
What are the three sectors of the Indian economy?
The Indian economy is divided into three sectors: the primary sector, which involves the extraction of natural resources such as agriculture and mining; the secondary sector, which focuses on manufacturing and processing raw materials; and the tertiary sector, also known as the service sector, which provides services like banking and transportation. Each sector plays a vital role in the overall economic framework and development of the country.

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