Class 9 Economics Chapter 2 People as Resource Notes

9 Class Economics Chapter 2 People as Resource Notes

ClassClass 9
Chapter Chapter 2
Chapter NamePeople as Resource
CategoryClass 9 Economics Notes

Class 9 Economics Chapter 2 People as Resource Notes In which we will learning about human capital, human capital formation, human resources, sectors of economy, economic activities, quality of population, importance of education, literacy, death rate, birth rate, unemployment etc.

Class 9 Economics Chapter 2 People as Resource Notes

📚 Chapter = 2 📚
💠 People as Resource 💠

❇️ People as Resource :-

🔹 People as a resource is a way of referring to a country’s workforce in terms of their existing skills and abilities.

🔹 Human beings perform many activities which can be grouped into Economic and Non-Economic.

🔶 Economic Activities :-

🔹 Economic activities refer to those activities of man/woman which are undertaken for a monetary gain to satisfy his/her needs.

🔹 The activities of workers, farmers, shopkeepers, manufacturers, doctors, lawyers, taxi drivers, etc. fall under this category.

🔶 Non-Economic Activities :-

🔹 Non-economic activities are ones that are not undertaken for any monetary gain.

🔹 These are also called unpaid activities, e.g., Puja in one’s own home, housekeeping, helping the poor etc.

❇️ Types of Economic activities :-

🔹 Economic activities can be of two types :- 

🔶 (a) Market Activities :- 

🔹 Market activities are performed for remuneration i.e pay or profit. 

🔹 Eg. Agriculture activities for selling crop produced.

🔶 (b) Non- Market Activities :-

🔹 Non-market activities are the activities carried out for self- consumption or production of fixed assets.

🔹 Eg. Kitchen garden

❇️ Economic Activities by Men and Women :-

🔹 Economic activities are development and wealth producing activities. It creates economic and financial gain by producing goods and services and adds value to the national income.

❇️ Human Capital :-

🔹 Human capital is the stock of skill and productive knowledge embodied in human beings. Population (human beings) become human capital when it is provided with better education, training and health care facilities.

❇️ Human Capital Formation :-

🔹 When the existing human resource is further developed by spending on making the workforce more educated and healthy, it is called human capital formation. 

❇️ Quality of Population :-

🔹 The quality of population depends upon the literacy rate, life expectancy and skills formation acquired by the people of the country.

❇️ Importance of Education :-

🔹 Education is the most important component of human resource development because :-

  • It helps individual to make better use of economic opportunities available before him. 
  • It contributes towards the growth of society and also enhances the national income, cultural richness and efficiency of governance.

❇️ Steps taken by Government to spread Education :-

🔹 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.

❇️ HEALTH :-

  • The health of a person helps him to realize his potential and the ability to fight illness. 
  • An unhealthy person becomes a liability for an organization. 
  • Health is an indispensible basis for realizing one’s well being. 
  • A healthy mind create healthy environment which is essential for development of a country. 
  • The National Health Policy too, aims at improving the accessibility of health care, Family welfare and nutritional services especially for the weaker and the underprivileged section of society.

❇️ Literacy rate :-

🔹 Literacy rate is the percentage of of population of an area at a particular time aged seven years or above who can read and write with understanding.

❇️ Life expectancy :-

🔹 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 :-

🔹 Death rate or mortality rate is the number of people die per 1000 of population during a year.

❇️ Infant mortality :-

🔹 Infant mortality rate is the number of deaths per 1000 live births of children under one year age.

❇️ Sector of Indian Economy :-

  • Primary Sector
  • Secondary Sector
  • Tertiary Sector

🔶 Primary Sector :-

🔹 It includes those activities which are directly related to the extraction of natural resources.

🔹 For example :- agriculture, forestry, animal husbandry, fishing, poultry, farming and mining

🔶 Secondary Sector :-

🔹 It includes those activities which extracts its raw material from primary sector and modify them into other useful products.

🔹 For example :- sugar from sugarcane, manufacturing steel from raw iron, etc.

🔶 Tertiary Sector :-

🔹 It is also called service sector as it provides the service to the above two sectors and help them to flourish.

🔹 For example :- eg, banking, transportation, communication etc.

❇️ Unemployment :-

🔹 Unemployment is said to exist when people who are willing to work at the prevailing wage rates cannot find jobs. When we talk of unemployed people, we refer to those in the age group of 15-59 years. Children below 15 years of age and the old people above 60 are not considered while counting the number of unemployed.

❇️ Types of Unemployment :-

🔶 Seasonal Unemployment :-

🔹 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.

🔶 Disguised Unemployment :-

🔹 It refers to a situation where in 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 agricultural workforce where more than required number (say 8 people) of a family members is involved in work that could be done by three (3) people only. Means those 5 people are disguisedly unemployed as their presence or absence does not matter.

🔶 Urban unemployment :-

🔹 It occurs when the educated person do not get employment according to its educational level or has to work below it.

🔹 Eg. People having 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 detrimental impact on the overall growth of an economy. 
  • Increase in unemployment is an indicator of a depressed economy.
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