Economics: People as Resource

Topics in this chapter

• People as Human Resource
• Education and Skill Development
• Health and Population Quality
• Economic Activities and Sectors
• Unemployment Types and Causes
• Employment, Wages and Development

Cheat sheet

Practice questions

1. Question 1Q-4B3B05

   How does human capital differ from physical capital like machines and buildings?

   1. A.Human capital cannot be measured in monetary terms.
   2. B.Human capital requires education and health investments, whereas physical capital does not.
   3. C.Human capital is superior to and can make use of land and physical capital.
   4. D.Physical capital is intangible while human capital is tangible.
   See the answer and solution
2. Question 2Q-ACEC52

   Which of the following activities is an example of the tertiary sector?

   1. A.Agriculture
   2. B.Mining
   3. C.Manufacturing
   4. D.Banking
   See the answer and solution
3. Question 3Q-313AD5

   What is the primary difference between market activities and non-market activities?

   1. A.Market activities are performed by the government, while non-market activities are performed by private individuals.
   2. B.Market activities involve remuneration for profit or pay, whereas non-market activities are for self-consumption or production.
   3. C.Market activities occur only in urban areas, while non-market activities occur in rural areas.
   4. D.Market activities require higher education, whereas non-market activities require unskilled labor.
   See the answer and solution
4. Question 4Q-E5E7AF

   Which of the following age groups constitutes the workforce population of a country according to standard economic studies in this chapter?

   1. A.0 to 14 years
   2. B.15 to 59 years
   3. C.60 years and above
   4. D.18 to 65 years
   See the answer and solution
5. Question 5Q-AB1211

   Which sector experiences the problem of seasonal unemployment predominantly in rural areas?

   1. A.Agriculture
   2. B.Information Technology
   3. C.Manufacturing
   4. D.Banking
   See the answer and solution