Question

What is meant by Human Resource?

Hint:

Think about what makes 'people' themselves a resource, as opposed to land or minerals.

Answer 1

Step 1: Understanding the Concept:
'Resource' means anything useful to humans. Human Resource refers to the population itself viewed as a productive asset — people's knowledge, skill, and ability to work, which are used to convert natural resources (land, minerals, water) into usable wealth.

Step 2: Key Characteristics:
Unlike other resources, human resource is a 'resource of resources' — it is the only resource that can create, modify, and use other resources through knowledge, technology, and enterprise. Its quality is measured through indicators like literacy, health, and skill levels.

Step 3: Final Answer:
Human Resource means the population of a country treated as an active economic asset, capable of using its knowledge and skills to transform natural resources into goods and services for development.