Seshu cheera

📘 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 ...