Based on picture, explain how the three economic sectors are interrelated and give an example of a business that operates in all three sectors to showcase their interconnectedness?
Important Questions on People as Resource
Unemployment is defined as the situation where individuals who are ready and willing to work at prevailing wage rates struggle to secure employment. India experiences unemployment in both its rural and urban regions, with variations in the nature of unemployment between these areas.
What are the primary types of unemployment observed in rural and urban areas in India, and how does the nature of unemployment differ between these regions?
Economic activities encompass those actions that contribute to a nation's income generation. Economic activities have two parts that is market activities and non-market activities.
How do market activities and non-market activities diverge in terms of their defining characteristics and implications in the realm of economic analysis?
What will happen to the population of a country if-
- Birth rate is increasing
- Death rate is declining
- Inter-state migration rate is decreasing.
Which of the following options is most appropriate in evaluating the given statements as Assertion (A) and Reasoning (R)?
Assertion (A): "People as a Resource" seeks to portray the population as a potential liability on the economy rather than an asset.
Reason (R): The population transforms into human capital through investments in areas such as education, training, and healthcare.
