📘 Formative Assessment – People as a Resource (Class 9 Economics, Chapter 2)

People as a Resource 

Introduction: Concept Overview

• "People as a Resource" means seeing a country's population as an asset, not a liability. When people are healthy, skilled, and educated, they add value to the nation.

• Investment in people, through education, training, and healthcare, builds human capital. Human capital is the collective skills, knowledge, and abilities that boost productivity and economic growth.

Human Capital Formation

• Human capital comes from improving health, education, and skills.

• Investment in human capital, just like investments in physical assets, brings future benefits. Countries that have invested in people—such as Japan—have grown rapidly even without abundant natural resources.

• There are cycles: in families where parents are educated and value education, children do better (virtuous cycle). In poor, uneducated families, poverty may continue (vicious cycle).

Economic Activities by Men and Women

Definition & Classification

• Economic activities create goods and services and contribute to income.

• There are three main sectors:

  • Primary: agriculture, mining, forestry, animal husbandry, fishing.

  • Secondary: manufacturing, construction, processing.

  • Tertiary: services including transport, banking, healthcare, education, tourism, communication.

Market and Non-market Activities

• Market activities are those done for pay or income, such as jobs and businesses. They are counted in national income.

• Non-market activities include production for self-use or family, and unpaid household work which are not usually counted in official economic measurements.

Role of Gender

• Women often work in non-market or informal sectors, and their contributions may not be measured accurately in economic statistics.

Quality of Population

• Quality depends on education, health, and skill levels.

• Better education increases productivity, earning capacity, and innovation.

• Healthier people are more productive and live better lives.

• Skilled and trained individuals are more employable and contribute more effectively to the economy.

Human Capital vs. Physical Capital

• Human capital (people’s skills, education, health) is different from physical capital (machines, buildings, tools).

• Human capital can use land, machines, and other resources effectively. Physical resources without skilled people remain underused.

Unemployment

• Unemployment is when people who are willing and able to work do not find jobs, causing wastage of potential.

• There are two main types:

  • Seasonal unemployment: people have work only during part of the year, common in farming.

  • Disguised unemployment: more people working than needed, especially in rural farms, so some are actually not adding to production.

• Unemployment can lead to lower income, poverty, and low self-esteem.

Government Initiatives

• The government focuses on improving education and health with schemes for schools, health centers, vocational training, and skill development.

• Examples of initiatives include Sarva Shiksha Abhiyan (for education), National Rural Health Mission, and Skill India Mission.

Case Studies & Examples

• Countries with fewer natural resources, like Japan, have prospered by investing in education and health.

• Comparisons show that skilled, educated people are more likely to earn more, live healthier lives, and lift their families out of poverty.

Key Takeaways

• A country’s wealth depends on the quality of its people. Investment in education, health, and skills builds the nation.

• Recognizing contributions by everyone in society (including women and those in non-paid roles) is essential for a real picture of economic strength.

• Human capital formation is a powerful tool against poverty and unemployment.

Tags:

#FormativeAssessment, #PeopleAsAResource, #Class9Economics, #CBSE2025, #NCERTSolutions, #HumanCapital, #Unemployment, #Class9SocialScience, #EconomicsNotes

Reference links:

1. https://mukutclasses.in/wp-content/uploads/2023/05/9.5.4.2_N_People_as_Resource.pdf
2. https://byjus.com/cbse-notes/class-9-social-science-economics-chapter-2-people-as-resource/
3. https://www.vedantu.com/revision-notes/cbse-class-9-social-science-economics-chapter-2-notes
4. https://www.youtube.com/watch?v=uBZBaiNLlpY
5. https://www.studyrankers.com/2017/03/notes-of-ch-2-people-as-resource-class9th.html
6. https://www.learncbse.in/people-as-resource-class-9-notes/
7. https://www.prepladder.com/upsc-study-material/economy/people-as-resource-economics-ncert-notes-upsc
8. https://www.youtube.com/watch?v=zYp2SEVeY7M
9. https://www.slideshare.net/slideshow/ix-economics-chapter-2-people-as-resource/236238406