what is importance of education class 9 economics

Why is Economic Education Important?

May 22, 2023 | CEE

CEE’s mission is to equip K-12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities. Most adults regularly use personal finance skills like spending, saving, managing credit, and investing, so they see the value in helping kids become financially literate. Conversely, many adults don’t understand economics or see the value in K-12 students learning economics. So, why is learning economics important?

An overview of economic education in the US

CEE releases a biennial report, Survey of the States , on the status of economic and personal finance education in K-12 schools in the United States. 2022’s report revealed only 25 states require students to take a course in economics to graduate. This is notable progress since the report was first published in 1998, but we are troubled by the recent stagnation in economic requirements. Economics plays a critical role in creating informed citizens, and the lack of progress in ensuring our young people have the opportunity to study economics puts the students and our nation at a disadvantage for years to come.

How economics affects our lives

Economics affects all of our lives. It teaches us to think logically, use data smartly, and develop strong analytical and problem-solving skills. It helps explain choices as small as your personal day-to-day decisions and as large as foreign policy decisions. Some examples include: 

Personal choices

• Should I make or buy lunch today? 
• Do I want more vacation time or a higher salary? 

Business choices 

• Should I manufacture or import parts for the toys I’m selling?
• Should I rent a retail space for my store or buy a building for my store?

Government choices

• Should we offer financial incentives for moviemakers to film in my city?
• Should we use tax dollars to extend unemployment benefits? 

Foreign policy choices

• What will I trade to make sure I have access to oil?
• Should I sell or give away COVID vaccines to other nations? Which nations?

These questions cover both micro and macroeconomic issues. Microeconomics is concerned with small scale systems like individuals and businesses while macroeconomics is concerned with decisions on a larger scale. 

Economics can help us make hard choices

The field of economics examines the ways in which these kinds of choices are made and shows us that incentives and trade-offs drive choice in rational and predictable ways.

If you know basic economics, you can consider opportunity costs when making decisions. If you know advanced economics, you can model how policy choices will impact millions of citizens and design incentives to create greater wealth and security for whole nations. 

Whether your passion is protecting the environment, reducing childhood obesity, making college affordable, or managing the federal debt, seeing your problem through an economic lens will help you understand the issue and identify potential solutions.

The magic of economic principles

Here are six useful principles we’ve learned from economists – and one awesome superpower!

People must choose because of scarcity. Most situations involve making choices. People evaluate the costs and benefits of different alternatives and choose the alternative that seems best to them.

People’s choices involve costs . Costs do not necessarily involve money. The most important type of cost is opportunity cost: the next best alternative that people give up when they make a choice.

People respond to incentives in predictable ways. Incentives are actions or rewards that encourage people to act in a certain way.  Incentives can be either positive or negative. When incentives change, people’s behavior changes. 

People create rules that influence individual choices and incentives. How people cooperate is governed by written and unwritten rules.  As rules change, incentives–and consequently people’s behaviors–change.  

People gain when they trade voluntarily. People can produce goods and services at lower opportunity costs when they specialize in what they do best.  Then they can trade what they produce for goods or services that would be more costly for them to produce. In this way, both sides gain. 

People’s choices have consequences that lie in the future . Important costs and benefits in economic decision making are those that will appear in the future. The study of economics stresses the importance of making decisions about the future because we can influence only the future; we cannot influence things that happened in the past. 

The new field of behavioral economics illuminates cognitive biases, such as emotions and beliefs, that affect our economic decision-making and lead us to behave less rationally, but still in predictable ways. The magic of understanding economics is it helps you see the hidden side of everything–seeing the unseen. It’s a superpower!  

Economics teaches life skills

Economics is typically taught only to those who advance to college-level education—and who select economics as a course to be taken. We believe that economic thinking is a core skill—one that’s necessary for understanding the world and making better decisions in it. Students who study economics develop strong analytic and problem-solving skills, along with business acumen needed to succeed in the professional world. We want all students to be exposed to economics throughout their K–12 learning years. 

A teacher’s view 

Simon Jarcho, winner of the 2023 Alfred P. Sloan Foundation Teaching Champion Award, teaches economics, statistics, and math to grades 11-12 at Avenues: The World School in NYC. On the importance of economics, Simon shared, “Economic education and exposure to social sciences, provides students with a toolkit to better understand and engage with the world around them. By imparting upon students an awareness of incentives and how they impact decisions – from ‘big picture’ macroeconomic decisions that drive public policy down to daily choices about how we as individuals allocate our scarce resources – I believe that we empower young adults to be more civically engaged and better equipped to participate in productive discourse.” 

Wondering how economically literate you are? Take our economics quiz to see how you test against others across the nation.

About the Council for Economic Education

The Council for Economic Education ’s (CEE’s) mission is to equip K–12 students with the tools and knowledge of personal finance and economics so that they can make better decisions for themselves, their families, and their communities, and learn to successfully navigate in our ever-changing economy. We carry out our mission in three ways.  We advocate to require financial and economic education in every state. We provide training, tools and resources – online and live through over 180 affiliates nationwide – to more than 40,000 teachers annually who in turn bring the highest quality economics and personal finance instruction to over 4 million students. We deepen knowledge and introduce high school students to critical career capabilities through our national competitions and Invest in Girls program.

Media contact:  

CEE: [email protected]  

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People as resource class 9 notes, Class 9 economics chapter 2 notes

9 class economics chapter 2 people as resource notes.

People as resource class 9 notes, Class 9 economics chapter 2 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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Class 9 Economics Chapter 2 Extra Questions and Answers People as Resource

In this page, you can find CBSE Class 9 Economics Chapter 2 Extra Questions and Answers People as Resource Pdf free download, NCERT Extra Questions for Class 9 Social Science  will make your practice complete.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Very Short Answers Type

Question 1. When does population become human capital? Answer: Population becomes human capital when there is investment made in the form of education, training and medical care.

Question 2. What is human capital? Answer: The skills, knowledge, and experience possessed by an individual or population improve the quality of the individual or the population and thus turn them into a great asset. This is known as human capital.

Question 3. What is called human capital formation? Answer: When the existing human resource is further developed by becoming more educated and healthy, we call it human capital formation. It adds to the productive power of the country.

Question 4. What does society gain through more educated and healthier people? Answer: The advantages of a more educated or healthier population spreads to those also who themselves were not directly educated or given health care.

Question 5. How is human capital superior to other resources like land and physical capital? Answer: Human resource can make use of land and capital. Land and capital cannot become useful on its own.

Question 6. What enhanced the total productivity of Sakai? Answer: Several years of education added to the quality of labour. This enhanced his total productivity.

Question 7. Mention the various activities undertaken in the primary sector? Answer: Activities such as agriculture, forestry, animal husbandry, fishing, poultry farming, mining and quarrying are undertaken in the primary sector.

Question 8. What are economic activities also called? Answer: Economic activities are also called market activities.

Question 9. Mention one difference between market activities and non-market activities. Answer: Market activities involve remuneration to anyone who performs i.e. activity performed for pay or profit. Non-market activities are the production for self- consumption.

Question 10. What do you mean by ‘division of labour between men and women in the family’? Answer: Women generally look after domestic chores and men work in the fields. In this way the work of a family is divided between men and women which is called division of labour.

Question 11. How are illiterate and unhealthy population viewed in a nation’s economy? Answer: Illiterate and unhealthy population are viewed as a liability in a nation’s economy.

Question 12. What are the two factors the quality of population depends upon? Answer: The two factors upon which the quality of population depends are—literacy rate, health of a person indicated by life expectancy and skill formation acquired by the people of the country.

Question 13. What does education contribute towards the growth of society? Answer: Education enhances the national income and cultural richness. It also increases the efficiency of governance.

Question 14. What is the goal behind development of vocational streams? Answer: Vocational streams have been developed to equip large number of high school students with occupations related to knowledge and skills.

Question 15. What is Sarva Siksha Abhiyan? Answer: Sarva Siksha Abhiyan is a significant step towards providing elementary education to all children in the age group of six to fourteen years by 2010.

Question 16. What is the aim of mid-day meal scheme? Answer: The aim of mid-day meal scheme is to encourage attendance and retention of children and improve their nutritional status.

Question 17. What do you mean by Infant Mortality Rate? Answer: Infant Mortality Rate is the death of a child under one year of age.

Question 18. What was the expenditure percentage of GDP in 1951-52 on education? Answer: The expenditure percentage of GDP in 1951-52 on education was 0.64%.

Question 19. What is seasonal unemployment? Answer: Seasonal unemployment happens when people are not able to find jobs during some months of the year. People dependent upon agriculture usually face such kind of problem.

Question 20. What is the literacy rate of India as per the Census of 2011? Answer: As per the Census of 2011, the literacy rate of India is 74%.

Question 21. What is vocational education? Answer: Vocational educational refers to as career education or technical education. This type of education . prepares people to work in a trade, in a craft, as a technician, etc.

Question 22. What is the indicator of good quality of life? Answer: An increase in longevity of life is an indicator of good quality of life marked by self-confidence.

Question 23. What is disguised unemployment? Answer: In disguised unemployment people appear to be employed. This usually happens among family members engaged in agricultural activity. The work requires the service of five people but engages eight people. Three people are extra who can be called disguisedly unemployed.

Question 24. What is meant by educated unemployment? Answer: Educated unemployment usually occurs in cities where there are educated or technically qualified people but no job opportunities available to them.

Question 25. In primary sector, which is the most labour absorbing sector? Answer: Agriculture is the most labour absorbing sector of the economy.

Question 26. In recent years, there has been a decline in the dependence of population on agriculture. Why? Answer: It is because some of the surplus labour in agriculture has moved to either the secondary or the tertiary sector.

Question 27. Name any two new services that have appeared in the tertiary sector. Answer: Biotechnology and information technology.

Question 28. What is the full form of GDP? Answer: The full form of GDP is Gross Domestic Product.

Question 29. What do you mean by birth rate? Answer: Birth rate is the number of babies born there for every 1,000 people during a particular period of time.

Question 30. What do you mean by death rate? Answer: Death rate is the number of people per 1,000 who die during a particular period of time.

Question 31. In which sector is disguised unemployment mostly found? Answer: Disguised unemployment is mostly found in agricultural sector.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Short Answers Type

Question 1. How did countries like Japan become rich/developed? Answer: Countries like Japan do not have any natural resources.’In spite of that they are developed/rich countries. They import the natural resources needed in their country. They became rich because they invested on people especially in the field of education and health. These people have made efficient use of other resources like land and capital. Efficiency and the technology evolved by people have made these countries rich/developed.

Question 2. How can the large population of India be turned into a productive asset? Answer: (i) India is a vast country with a large population. But it (large population) need not be a liability. It can be turned into a productive asset by investment in human capital by spending resources on education and health for all

(ii) Training of industrial and agricultural workers in the use of modern technology and scientific researches, etc can contribute a lot in turning the population into an asset.

(iii) Investment in human resource via education and medical care can give high return in future. Education adds to the quality of labour which ultimately enhances the total productivity. Total productivity adds to the growth of the economy.

Question 3. Why do educated parents invest more heavily on their children’s education? Answer: (i) Educated parents are found to invest more heavily on the education of their child. This is because they have realised the importance of education for themselves. They are also conscious of proper nutrition and hygiene.

(ii) They accordingly look after their children’s needs for education at school and good health. They know that education adds to the quality of labour which ultimately enhances their children’s total productivity.

(iii) They are equally concerned with their children’s health and do their best for it. Health is an indispensable basis for realising one’s well-being. Needless to say that a child with investment made on her education and health can yield a high return in the future in the form of higher earnings and greater contribution to society.

Question 4. What are the main objectives of Sarva Siksha Abhiyanl Answer: Sarva Siksha Abhiyan is a time bound initiative of the central government, in partnership with the states, local government and the community for achieving the goal of elementary education. Its main objectives of are given below:

• To provide elementary education to all children in age group of six to fourteen years by 2010.
• To increase the enrolment in elementary education by establishing back-to-school camps.
• To encourage attendance and retention of children and improve nutritional status.

Question 5. What is the National Health Policy of India? Or Mention some of the features of National Health Policy. Answer: (i) Improvement in the health status of the population has been the priority of the country. Our national policy, too, aims at improving the accessibility of health care, family welfare and nutritional service with a special focus on the underprivileged segment of population.

(ii) Over the last five decades India has built up a vast health infrastructure and has developed man power required at primary, secondary and tertiary sector in Government as well as in the private sector.

(iii) Adopotation of these measures have increased the life expectancy to over 66 years in 2011. Infant mortality rate has also come down from 147 in 1951 to 42 in 2012. Increase in longevity of life is an indicator of good quality of life marked by self-confidence.

Question 6. How are children of educated parents different from those of uneducated parents? Answer: The following points make it clear how children of educated parents are different from those of uneducated parents:

Question 7. ‘Statistically, the unemployment rate is low in India.’ Explain. Answer: A large number of people represented with low income and productivity are counted as employed. They appear to work throughout the year but in terms of their potential and income, it is not adequate for them. The work they are pursuing seems forced upon them. They may, therefore, want other work of their choice. Poor people cannot afford to sit idle. They tend to engage in any activity irrespective of its earning potential. Their earning keeps them on a bare subsistence level.

Question 8. What are the objectives of the eleventh five-year plan with regard to education? Answer: The objectives of the eleventh five-year plan with regard to education Eire given below:

• The eleventh five-year plan endeavoured to increase the enrolment in higher education of the 18 to 23 years age group to 15% by 2011—12 and to 21% by twelfth plan.
• The strategy focuses on increasing access, quality adoption of states-specific curriculum modification, vocationalisation and networking on the use of information technology.
• The plan also focuses on distant education, convergence of formal, non-formal, distant and IT education institutions. Over the past fifty years, there has been a significant growth in the number of universities and institutions of higher learning in specialised areas.

Question 9. How does investment in human resource give higher return in future? Answer: Investment in human resource (through education, training, medical care) yields higher return just like investment in land and capital. This can be seen directly in the form of higher incomes earned because of higher productivity of the more educated or the better trained persons, as well as the higher productivity of healthier people.

Not only do the more educated and the healthier people gain through higher incomes, society also gains in other indirect ways because the advantages of a more educated or a healthier population spreads to those also who themselves were not directly educated or given health care. Countries like Japan have become rich and developed without any natural resources because they have invested in human resource.

Question 10. Why will a firm not like to employ a worker with ill-health? How does it affect the working environment? Answer:

• Health is an important factor that affects the productivity of an individual. If health is good, it improves the productive power of the individual but if it is bad then the individual will become a liability to the family and the society.
• Obviously no firm will like to employ a worker with ill-health. Such a worker will miserably fail to add to the productivity of the organisation. The organisation will be at great loss if it overlooks the health of its employees at the time of their appointment.
• No one can deny the fact that the health of a person helps him to realise his potential and the ability to fight illness. Healthy people can do hard work. They avoid to take leaves as they are hale and hearty.

Question 11. ‘The employment structure is characterised by self-employment in the primary sector.’ Explain. Answer: Primary sector means agricultural sector where the whole family contributes in the field even though not everyone is really needed. Thus, we find disguised unemployment in this sector. But the entire family shares what has been produced. This concept of sharing of work in the field and the produce raised reduces the hardship of unemployment in the rural sector. But this does not reduce the poverty of the family as a result of which surplus labour from every household tends to migrate to cities in search of jobs.

Question 12. How have the various activities been classified into sectors? Give one example from each sector. Answer: The various activities have been classified into three main sectors i.e., primary, secondary and tertiary.

• Primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, mining and quarrying.
• Manufacturing is included in the secondary sector.
• Trade, transport, communication, banking, education, health, tourism, services, insurance, etc. are included in the tertiary sector.

Question 13. What is called economic activity? Distinguish between market and non-market activities. Answer: The activities that add value to the national income are called economic activities. Economic activities are also called market activities. Market activities differ from non-market activities in the following ways:

Question 14. Define the term unemployment. What are the major types of unemployment prevailing in India? Answer: Unemployment is a situation in which a person is willing to work at the going wages cannot find jobs. Four types of unemployment are prevailing in our country. These are:

• Seasonal unemployment
• Disguised unemployment
• Educated unemployment
• Structural unemployment

Question 15. Enlist the factors on which the quality of population depends. Also highlight the role of education in enhancing the quality of population. Answer: The two factors upon which the quality of population depends are – literacy rate, health of a person indicated by life expectancy and skill formation acquired by the people of the country.

Education plays a very significant role in human capital formation. It is an important input for the growth of an individual. It enables humans to realise their full potential and achieve success in life in the form of higher incomes through better jobs and higher productivity. Education helps individual to make better use of the economic opportunities available before him.

Education and skill are the major determinants of the earning of any individual in the market. We have seen that a majority of women are paid low compared to men because they have meagre education and skill formation. But women with high education and skill formation are paid at par with the men. So, education is important and it should be imparted to children with great care.

Question 16. Mention some of the factors responsible for seasonal unemployment. Answer: Seasonal unemployment is found in rural areas. People dependant upon agriculture usually face such kind of problem. The factors responsible for this are:

• Most of India’s rural areas are victims of extreme poverty. Farmers are too poor to practise multiple cropping which requires labour all the time. So, there will be no chance of seasonal unemployment.
• Lack of small scale industries/cottage industries in rural areas is also a prime factor for seasonal unemployment. These industries will play a valuable role in providing employment to those villagers who are out of work during off season.
• Commercial agriculture in India is practised on a limited scale. Its expansion will end the scope of seasonal unemployment.

Question 17. What is Mid-day Meal scheme? What was the purpose behind launching this scheme? Answer: The Mid-day Meal scheme is a school meal programme of the Government of India. It was launched in 1995. The programme supplies free lunches on working days for children in primary and upper primary classes in government, government-aided, local body, madarsa etc. It was launched to

• encourage attendance and retention of children in schools.
• improve the nutritional status of school-age children nationwide.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Long Answers Type

Question 1. What has the government of India done to literate the population of the country? Or Give the initiatives taken by the Government to improve elementary education in India. Answer: In order to literate the population of the country, the Government of India has taken several measures. Some of them are given below:

• There is Sarva Siksha Abhiyan to provide elementary education to all children in the age group of six to fourteen years. It is a time-bound initiative of the central government, in partnership with the state, the local government and the community for achieving the goal of universalisation of elementary education.
• Along with it, bridge courses and back-to-school camps have been initiated to increase the enrolment in elementary education.
• Mid-day Meed Scheme has been implemented to encourage attendance and retention of children and improve their nutritional status.
• Navodaya Vidyalayas have been opened in each district as ideal schools, whose facilities and methods can be followed by other schools. Importance is also given to vocationalisation and networking on the use of information technology.

Question 2. Describe how the nature of unemployment differs in rural and urban areas. Answer: (i) The nature of unemployment sharply differs in rural and urban areas. In rural areas of India, there is seasonal and disguised unemployment. Urban areas have mostly educated unemployment.

(ii) Seasonal unemployment happens when people are not able to find jobs during some months of the year. People dependant on agriculture usually face this type of unemployment.

(iii) In case of disguised unemployment, people appear to be employed. They have agricultural plots where they find work. This usually happens among family members engaged in agricultural activity. The work requires the service of five people but engages eight people. Three people are extra and are disguisedly unemployed.

(iv) In urban areas, educated unemployment has become a common phenomenon. Many youth with matriculation, graduation and post-graduation are not able to find job.

(v) Unemployment is also found among technically qualified persons. These persons in spite of having technical degrees fail to find suitable jobs. This leads to frustration among them.

Question 3. Mention some harmful effects of unemployment. Answer: Unemployment is a serious problem which needs to be eradicated soon. There are several harmful effects of this problem. Some of them are given below: (i) Unemployment leads to wastage of manpower resources. People who are an asset for the economy turn into a liability.

(ii) There is a feeling of hopelessness and despair among youth. People do not have enough money to support their family. Inability of the educated people who are willing to work to find gainful employment implies a great social waste.

(iii) Unemployment tends to increase economic overload. The dependence of the unemployed on the working population increases which is very depressing for a country.

(iv) The quality of life of an individual as well as of society is adversely affected. When a family has to live on a bare subsistence level there is a general decline in its health status and rising withdrawal from the school system.

(v) Increase in unemployment is an indicator of a depressed economy. It also wastes the resource, which could have been gainfully employed.

Question 4. Define the following terms: (i) Gross National Product (ii) Gross Domestic Product (iii) Virtuous Cycle (iv) Vicious Cycle (v) Economic Overload Answer: (i) Gross National Product: GNP is a measure to value what the country’s citizens produce in a given year.

(ii) Gross Domestic Product: GDP is a measure to value the total final production in a country in a given year.

(iii) Virtuous Cycle: A virtuous cycle has favorable results. Some educated parents invest heavily on the education of their child. They are also conscious of their proper nutrition and hygiene. Several years of education enables their child to earn more. A virtuous cycle is thus created in this case.

(iv) Vicious Cycle: A vicious cycle has detrimental results. Such a cycle may be created by disadvantaged parents who, themselves uneducated lacking in hygiene, keep their children in a similar disadvantaged state.

(v) Economic Overload: Unemployment tends to increase economic overload. When dependence of the unemployed on the working population increases, it increases economic overload.

Question 5. ‘Illiterate and unhealthy population are a liability for the economy.’ Justify the statement with suitable examples. Answer: Illiterate and unhealthy population are a great liability for a country’s economy. Several reasons can be given in this regard: (i) Since the population is illiterate and physically weak, it is unable to use land and capital efficiently. This will retard the growth of the country. Such a population miserably fail to contribute positively.

(ii) People sans education and health earn meagre income. No organisation is ready to give them work because it is fully aware of their incapability of doing work.

(iii) Wherever they are, they have to depend on others for this purpose or that. Since they can do only menial work, they lead a very hard life. They have no aspirations and spend all their life in struggles for keeping their body and soul together.

(iv) We have seen that uneducated parents lack in hygiene and keep their children in similar disadvantaged state. They do not send their children to school as a result of which they become a liability. Like their parents they too do not add to the growth of the economy.

(v) Uneducated and unhealthy population make their country poor because of their low productivity. They are really a great burden on the society and the nation. Such a population need to be turned into a productive asset by investment in human capital.

Question 6. Describe unfavourable effects of population growth in a country like India. Answer: India is a large country with a huge population. This population can be turned into a productive asset by investment in human capital through education, training and medical care but in a country like India it is a little bit difficult task. And therefore, this huge population is not considered good for the country’s economic development. Some of the unfavourable effects of population growth are given below:

(i) Since India is not a developed country, it is difficult to turn the huge population into a productive asset. It means a large segment of the population is a liability which is a big hindrance in the country’s development.

(ii) A fast growth in population means a large number of persons coming to the labour market for whom it may not be possible to provide employment. This will create a problem of unemployment which retards the development of the nation.

(iii) The large size of population also reduces per capita availability of capital in less developed countries like India. A rapidly growing population leads to a progressive decline in the availability of capital per worker. This further leads to lower productivity and diminishing returns.

(iv) Population growth if not checked creates food problem. Food scarcity affects economic develop-ment in two respects— firstly, it leads to undernourishment of the people which lowers their productivity and secondly, it paves the way for importing food grains which is not a good sign for a country’s economy.

(v) Population growth also leads to illiteracy and poverty. Uneducated and poor parents keep their children in a similarly disadvantaged state. When they grow up, they too become a liability to the family and the nation.

Question 7. Give the main features of Sarva Siksha Abhiyan. Or Write a note on Sarva Siksha Abhiyan. Answer: Sarva Siksha A6 hiyan is an Indian Government programme aimed at the universalisation of elementary education in a time bound manner. It has been operational since 2000-2001. The main features this movement are given below:

(i) SSA aims at changing in the current school system in order to improve the quality of the education provided in the country.

(ii) The SSA programme is also an effort to provide an equal opportunity for children to grow and develop knowledge and skills through the community-owned quality education system.

(iii) The main mission of SSA is to provide useful and relevant elementary education for all children in the 6 to 14 age group by 2010. SSA means remove all social, regional and gender disparities in the education system through the active participation of the community.

(iv) Along with universalisation of elementary education, bridge courses and back-to-school camps have been initiated to increase the enrolment in elementary education.

(v) Mid-day Meal Scheme has been implemented to encourage attendance and retention of children and improve their nutritional status.

Question 8. What are the factors responsible for unemployment in India? Answer: Unemployment has emerged as a major national issue during the last many decades and it has been increasing day by day. There are several factors responsible for this problem:

(i) India is a large country with a huge population. A fast growth in population means a large number of persons coming to the labour market for whom it may not be possible to provide employment. This will create a problem of unemployment which retards the development of the nation.

(ii) People are heavily dependent on agriculture. This sector is characterised by seasonal and disguised unemployment. People are busy during certain months. Afterwards they become out of work. This sector is also labour absorbing. We find more people engaged in a certain work than required.

(iii) There are many educated persons who do not want to work in the villages. They run to cities in search of jobs but most of them fail to find any suitable position for themselves. This has also given rise to unemployment.

(iv) With the advent of automatic machines, employment opportunities have declined. This is also a major factor for unemployment. Potters, weavers and many others who were previously engaged in their traditional occupations are facing grim situation.

(v) Cottage and village industries which can absorb most of our unemployed youth have been badly neglected. There is focus only on big multi-crore industrial projects. This is also a main reason of unemployment in India.

Question 9. How can we tackle the problem of unemployment? Give some suggestions. Answer: Unemployment is a serious issue for all of us. This problem needs to be tackled wisely. Some of the suggestions given in this regard are: (i) Our population is increasing rapidly. But employment opportunities have not increased accordingly. So the rise in population must be controlled in order to end this problem.

(ii) India is predominantly an agriculture country. There is no dearth of raw materials here. We must make our country an industrial country if we wish to control the mounting pressure of unemployment.

(iii) Over-dependence on agriculture should be stopped by establishing more and more cottage and small scale industries in our villages. These not only help in creating employment opportunities but also check the rate of migration from rural to urban areas.

(iv) Vocational and skill-based education should be encouraged in every part of the country. This will prove a significant step in removing the problem of unemployment.

(v) Educated youth should be encouraged to set up their own enterprises. It can also generate employment for many others. Our present Government is giving much importance to this.

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Higher Order Thinking Skills (HOTS) Questions

Question 1. Mention the measure steps taken by the government in the field of education. Answer: Our government has been very active in the field of education. It has taken several steps towards in this regard:

• There is a provision made for providing universal access, retention and quality in elementary education with a special emphasis on girls.
• There is also an establishment of pace setting of schools like Navodaya Vidyalaya in each district.
• Vocational streams have been developed to equip large number of high school students with occupations related to knowledge and skills.
• The plan outlay on education has increased from ₹ 151 crore in the first plan to ₹ 3766.90 crore in the eleventh plan.

Question 2. ‘Increase in unemployment is an indicator of a depressed economy.’ Explain. Answer: It is a truth that increased unemployment indicates a depressed economy. People having no employment turn into a liability. There is a feeling of hopelessness and despair among the youth. People do not have money to support their family. Inability of educated people who are willing to work to find gainful employment implies great social loss.

Unemployment tends to increase economic overload. Quality of life is adversely affected due to unemployment. When a family has to live on a bare subsistence level there is a general decline in its health status and rising withdrawal from the school system.

Hence, unemployment has a detrimental impact on the overall growth of an economy. Increase in unemployment is an indicator of a depressed economy. It also wastes the resource, which could have been gainfully employed. If people cannot be used as a resource they naturally appear as a liability.

Question 3. Distinguish between the working conditions of an educated and uneducated women. Answer: The working conditions of an uneducated women are sharply different from those of the educated women in the following ways:

People as Resource Class 9 Extra Questions and Answer Economics Chapter 2 Value-based Questions (VBQs)

Question 1. Classify various activities into three sectors. How are these activities important? Answer: The various activities have been classified into three main sectors i.e., primary, secondary and tertiary.

All these activities are important because they add value to the national income. They generate employment opportunities and thus contribute in reducing the problem of unemployment.

Question 2. What values are associated with human capital? Answer: Values associated with human capital are:

• It adds to the productive power of the country.
• It can make use of land and capital. Land and capital cannot become useful on its own. Thus, it is superior to other resources.
• It contributes in the growth of family and society.

Question 3. How is a virtuous cycle created by educated parents? Answer: Educated parents are more concerned for their child’s future than uneducated parents. As they know the importance of education, they are found to invest more heavily on the education of their child. They are also conscious of proper nutrition and hygiene. They accordingly look after their children’s need for education at school and good health.

A virtuous cycle is thus created by educated parents. This cycle is repeated one generation after another. On the contrary, disadvantaged parents because of their illiteracy and poor knowledge of hygiene, keep their children in a similarly disadvantaged state. By not investing on their children’s education and health, they create a vicious cycle.

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People as Resource class 9 Notes Economics

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Class 9 Economics notes Chapter 1 People as Resource

Download CBSE class 9th revision notes for chapter 1 People as Resource in PDF format for free. Download revision notes for People as Resource class 9 Notes Economics and score high in exams. These are the People as Resource class 9 Notes prepared by team of expert teachers. The revision notes help you revise the whole chapter 1 in minutes. Revision notes in exam days is one of the best tips recommended by teachers during exam days.

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CBSE Class 9 Revision Notes Economics People as Resource

Population of a nation can be its asset rather than liability.

‘People as resource’ refers to a country’s working people in terms of their existing productive skills and abilities.

When existing human resource is developed by becoming educated and healthy it turns into human capital.

Human capital is superior to other resources like land and physical capital, as it uses these capitals and adds value to them.

Investment in human capital via education and medical care can give high returns in the future. Country like Japan have invested a lot in human resources. They do not have rich natural resources, but still they are called developed nations.

Human beings perform many activities which can be grouped into economic and non-economic.

Economic Activities : Economic activities refer to those activities of man which are undertaken for a monetary gain or to satisfy his/her wants. The activities of workers, farmers, shopkeepers, manufacturers, doctors, lawyers, taxi drivers, etc. fall under this category.

Market Activities and Non-Market Activities

Economic activities are also called as market activities.

Non-market activities are production for self-consumption.

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-paath, housekeeping, helping the poor or disabled, etc.

• Classification of Economic Activities. Various economic activities can be classified into

three main sectors, that is primary sector, secondary sector, and tertiary sector. The primary sector includes activities like agriculture, forestry, animal husbandry, fishing, poultry, farming and mining. In this sector, goods are produced by exploiting nature. In the secondary sector, manufacturing (small and large) and construction activities are included. The tertiary sector (also called service sector) provides various types of services like transport, education, banking, insurance, health, tourism, etc.

• In India traditionally there is division of labour between men and women.
• Activities of Women. Women generally look after domestic affairs like cooking of food, washing of clothes, cleaning of utensils, housekeeping and looking after children
• 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

Quality of Population .

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

Role of Education :

Education is the most important component of human resource development. It contributes towards the growth of the society, enhances the national income, cultural richness and increases efficiency of governance. In view of its contribution towards the growth of the society, government expenditure on education as a percentage of GDP rose from 0.64% in 1951-52 to 3.98% in 2002-03. However, our national goal is 6% of GDP. Literacy is uneven between males and females. Males are more literate. It also varies with urban and rural area. Urban population is more literate compared to rural. There were 7.68 lakh schools by 2004-05. But education is diluted by the poor quality of schooling and high drop out rates. ‘Sarv Shiksha Abhiyan’ is a significant step towards providing elementary education to all children below the age of 14.

Health is another very important component of human resource development. Efficiency of workers largely depends on their health. There has been considerable improvement in the country’s health standard. For instance, the life expectancy at the time of birth in India rose from 37.2 years in 1951 to 63.9 years in 2001. Similarly, infant mortality rate has come down from 147 to 47  by 2010. Infant mortality rate is the death of the child under one year of age. India has built up a vast health infrastructure but still much more is needed to be done.

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.

Nature of Unemployment in India :

Seasonal unemployment 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 is another kind of unemployment found in rural areas. Such kind of problem arises due to excessive pressure of population on agriculture. Disguised unemployment 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 are disguisedly unemployed. Increase in unemployment is an indicator of depressed economy.

Consequences of Unemployment :

(i) Unemployment leads to wastage of manpower resource. (ii) Unemployment tends to increase the economic overload that is dependence of the unemployed on the working population. (iii) Unemployment may lead to increase in social unrest and tension.

People as Resource Class 9 Notes Economics

People as Resource class 9 Notes Economics. CBSE quick revision note for class-9 Economics, Chemistry, Math’s, Biology and other subject are very helpful to revise the whole syllabus during exam days. The revision notes covers all important formulas and concepts given in the chapter. Even if you wish to have an overview of a chapter, quick revision notes are here to do if for you. These notes will certainly save your time during stressful exam days.

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14 thoughts on “People as Resource class 9 Notes Economics”

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Class 9 Economics Notes Chapter 2 People as Resource

Chapter 2 - people as resource.

Chapter 2 – People as Resource is an effort to explain the population as an asset for the economy rather than a liability. Population becomes human capital when there is an investment made in the form of education, training, and medical care. Human capital is the stock of skill and productive knowledge embodied in them. Here, we have provided Vidyakul CBSE Class 9 Economics notes for Chapter 2 to help students grasp concepts quickly and revise thoroughly before the exams. These Vidyakul Economics notes for Class 9 have been designed precisely covering almost all the concepts mentioned in the chapter. Preparing from these notes will help students to fetch excellent marks in their Class 9 Economics exam.

People as Resource is a way of referring to a country’s working people in terms of their existing productive skills and abilities. Like other resources, the population is also considered a human resource. When the existing ‘human resource’ is further developed by becoming more educated and healthy, it is called human capital formation. Investment in human capital (through education, training, and medical care) yields a return just like an investment in physical capital.

Human capital is superior to other resources like land and physical capital. Total productivity adds to the growth of the economy. Investment in human resources (via education and medical care) can give high rates of return in the future. Countries, like Japan, have invested in human resources.

Economic Activities by Men and Women

The activities in Economics are divided into three sectors i.e. primary, secondary, and tertiary. The primary sector includes agriculture, forestry, animal husbandry, fishing, poultry farming, mining, and quarrying. The secondary sector includes manufacturing. The tertiary sector includes trade, transport, communication, banking, education, health, tourism, services, insurance, etc. These activities are termed economic activities. Economic activities have two parts — market activities and non-market activities. Market activities involve remuneration to anyone who performs i.e., activity performed for pay or profit. These include the production of goods or services, including government services. Non-market activities are the production for self-consumption. These can be the consumption and processing of primary products and the own-account production of fixed assets.

There was a division of labor between men and women. Men were paid for their services but to the contrary women were not paid for their services. Education played an important role in individuals making better use of economic opportunities. Most women used to work in places where there was no job security. In this sector, employment was characterized by irregular and low income. Basic facilities were missing like maternity leave, childcare, and other social security systems. However, women with high education and skill formation were paid highly.

Quality of Population

The quality of the population depends upon the literacy rate, and health of a person indicated by life expectancy and skill formation acquired by the people of the country. It ultimately decides the growth rate of the country and a literate and healthy population were an asset.

Education contributes to the growth of society and enhances the national income, and cultural richness, and increases the efficiency of governance. Literacy is needed for citizens to perform their duties and enjoy their rights properly. Sarva Siksha Abhiyan, which was introduced in the year 2010 provides elementary education to all children in the age group of 6–14 years. To encourage attendance and retention of children and improve their nutritional status, a mid-day meal scheme was introduced. The 12th plan focused on increasing access, quality, adoption of state-specific curriculum modification, vocationalisation, and networking on the use of information technology, distance education, and convergence of formal, non-formal, distance, and IT education institutions.

Improvement in the health status of the population has been the priority of the country. The National Policy, too, aimed at improving the accessibility of healthcare, family welfare, and nutritional service, especially for the underprivileged segment of the population. India over the last five decades has developed its manpower required in the primary, secondary, and tertiary sectors.

Unemployment

In India, we have unemployment in rural and urban areas, though the nature of unemployment differs in rural and urban areas. In rural areas, unemployment was seasonal and disguised. In urban areas, unemployment was educated unemployment. Seasonal unemployment occurred when people were not able to find jobs during a few particular months of the year. In disguised unemployment people appeared to be employed. Educated unemployment became a common phenomenon in urban areas. Unemployment leads to the wastage of manpower resources, tends to increase economic overload, and has a detrimental impact on the overall growth of an economy. In India, statistically, the unemployment rate is low.

In the primary sector, the employment structure is characterized by self-employment. Agriculture is the most labor-absorbing sector of the economy. But, in recent years, there has been a decline in the dependence of the population on agriculture. Some of the surplus labor in agriculture has moved to either the secondary or the tertiary sector. In the secondary sector, small-scale manufacturing was the most labor-absorbing. In the case of the tertiary sector, various new services are now appearing like Biotechnology, Information Technology, and so on.

1. What do you understand by ‘people as a resource’?

Answer: ‘People as a resource’ is a term that means how the population can be an asset and not a liability. It is a way of referring to the working class of society in terms of their existing productive skills and abilities. The population becomes human capital when an investment is made in the form of education and training. Education and health also help human beings to be an asset to the economy. Thus, people as a resource refers to the working population that results in the development of society.

2. How are human resources different from other resources like land and physical Capital?

Answer: Human resources are different from other resources like land and physical capital because human beings can use other resources to give out productive output. However, resources like land and physical capital are dependent on human resources for their use and cannot give any productive output all by themselves.

3. What is the role of education in human capital formation?

Answer: Education plays a very important role in human capital formation for the following reasons:

An educated human can be considered an asset for the economy and not a liability.

Education can help an individual make better use of economic opportunities. It helps in enhancing the national income, and cultural richness and increases the efficiency of the Government.

It enhances individual productivity in terms of quality and quantity.

Because being educated can help the economic status of an individual, it also develops the consciousness towards society.

An educated person is also aware of health and hygiene, and it will ultimately result in better health for the people of a country .

4. What is the role of health in human capital formation?

Answer: Health plays a very important role in human capital formation in the following ways:

• If an individual is healthy, they may have better immunity to fight illness.
• Being healthy will also increase the overall outcome of an individual.
• The health of an individual is directly proportional to the work he does. Thus better health will increase efficiency.

The above-mentioned points prove that if better healthcare measures are taken up, and an individual in a country becomes more healthy, the human capital and productivity will also increase.

5. What part does health play in the individual’s working life?

Answer: If an individual is healthy, then they may be able to give a better outcome in terms of their work lives. The efficiency of a healthy person is higher than that of an unhealthy person. A healthy person can spend more time working in comparison to an unhealthy person. Hence, health plays a very important role in an individual’s working life.

6. What are the various activities undertaken in the primary, secondary, and tertiary sectors?

Answer: The various activities that come under the primary, secondary, and tertiary sectors are as follows:

7. What is the difference between economic activities and non-economic activities?

Answer: The activities that add value to the national income are called economic activities. They can be divided into two types: market activities and non-market activities. Market activities involve the activities performed for pay or profit, and non-market activities include the production done for self-consumption.

The activities that add no value to the national income are called non-economic activities. The domestic chore is an example of non-economic activities.

8. Why are women employed in low-paid work?

Answer: The wage distribution among men and women has been a major concern for society. Women are mostly paid less than men, and one major reason for this is the meager education qualification of women. They are employed in sectors that do not provide them with proper maternity leaves, childcare benefits, and other provisions and are also responsible for managing household work. Hence, they are paid less than men. Skill is another reason why wages for women are less than for men. Men are considered more skillful in comparison to women, despite equal physical work. Due to these reasons, women are employed in low-paid work.

9. How will you explain the term unemployment?

Answer: A situation in which skilled and abled people do not get gainful work at a decent wage is called unemployment. Both rural and urban areas have unemployment. In the case of the rural population, there is seasonal unemployment, and in urban areas, there is educated unemployment.

10. What is the difference between disguised unemployment and seasonal unemployment?

Answer: Rural areas have cases of both seasonal and disguised unemployment. Seasonal unemployment is when a person is unable to find a job for a few months of the year. This mostly happens for farmers who are unemployed for a part of the year when no crops are grown.

Disguised unemployment is when people appear to be employed. When the number of people working on agricultural land is higher than the number of people actually required to work, this is considered an example of disguised unemployment. If a piece of land requires only three people to work on it, but rather than five working on it, the two extra people are an example of disguised unemployment.

11. Why is educated unemployed a peculiar problem in India?

Answer: Educated unemployment has become a common phenomenon in India. Youths with matriculation, graduation, and post-graduation degrees are unable to get jobs in India. This is because the education system in India labels anyone above the age of 18 years as eligible to work. This leaves the youth unskilled and ultimately unemployed. It is important that an individual who does not only have a degree but must also be skilled enough to get a job.

12. In which field do you think India can build the maximum employment opportunity?

Answer: There are three types of activities into which the employment sector is divided: the primary sector, secondary sector, and tertiary sector. The largest part of India’s population is dependent on agriculture for their livelihood, yet there is a massive scope of disguised unemployment in the agricultural sector. Hence the manufacturing sector, a secondary activity, is the one where the maximum part of the population can be given employment due to the increase in the number of industries.

13. Can you suggest some measures in the education system to mitigate the problem of the educated unemployed?

Answer: Some measures that can be taken in the education system to mitigate the problem of educated unemployed are as follows:

• Make secondary-level education more career-oriented. This practice will not just help individuals get an education but also enhance their skills and get better employment opportunities.
• An individual should be able to choose the subjects that suit his or her abilities.
• New subjects and fields of study should be introduced at the school level, which can be opted for a career in the future. This will open an opportunity for students to plan their future options at the school level itself.

14. Can you imagine some village that initially had no job opportunities but later came up with many?

Answer: Students must answer this question based on their own experience.

15. Which capital would you consider the best — land, labor, physical capital, or human capital? Why?

Answer: Human capital can be considered to be the best out of the land, labor, physical, and human capital. This is because the other resources cannot be used all by themselves, and only humans can use other resources and get productive outcomes from them.

Frequently Asked Questions......

What is a ‘Resource’?

Resources are anything that has utility and adds value to our life.

What are the reasons for Unemployment?

1. Discrimination 2. Slow industrial growth 3. Decreased economic growth

What is ‘Sarva Siksha Abhiyan’?

Sarva Shiksha Abhiyan (SSA) is the Government of India’s flagship program for the achievement of Universalization of Elementary Education (UEE) in a time-bound manner, as mandated by the 86th amendment to the Constitution of India for children of age 6 -14 years.

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