What do you understand by people as a resource?
People as resource is a way of referring to a country’s working people in terms of their existing production skills and abilities.
Human resource is considered superior to any other resource due to the following reasons:
- Only human resource can think, analyse and take decisions. It is living, active and sensitive factor of production.
- Human resource add to productive power of a country. Population of a country helps to increase its country’s Gross National Product by producing goods and services.
- When existing human resource is developed by becoming more educated and healthy, we call it human capital formation which adds to the productive power of a country.