WebOct 11, 2024 · The population becomes human capital when the humans themselves act as the resources. This can be achieved by educating more and more people and giving … WebJan 22, 2024 · Physical capital is one of the factors of production in Adam Smith’s Classical Economics theory. Together with land and natural resources as well as human capital, the three factors will support the process of production and contribute to …

Extra Questions for Class 9 Economics Chapter 2 People as Resource

WebHuman capital is in one way superior to other resources like land and physical capital: human resource can make use of land and capital. Land and capital cannot become useful on its own! 5. Prove by giving example that population is an asset for the economy rather than a liability. A large population need not be a liability. WebHow do we measure human capital? There is no comparable and consistent measure across countries reflecting all these elements available. Economists thus rely on inferior substitutes, such as years spent in the schooling system, … fm radio world

Investing in human capital (article) Khan Academy

WebWhen does population become human capital? Population becomes human clinal when investment is made in the form of education, health care and training. What is people as A resource used to refer to? People as a resource is a way of referring to a country's working population in terms of their productive skills and abilities. WebThis is, Y = K α L 1 − α. It can be shown that in the steady state optimal capital per capita is: k ∗ = ( s δ + n) 1 1 − α. (for example, see here) Therefore, an increase in n lowers k ∗. Similarly, in the steady state, output per capita is y ∗ = k ∗ α. Thus, a fall in k ∗ leads to a fall in y ∗, given that α ∈ ( 0, 1). fm radio with cd player