how is human resource different from other resources like land and physical capital?
Share
how is human resource different from other resources like land and physical capital?
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Explanation:
Human resource is different from other resources in many senses. Human resources need education, training and healthcare to develop. On the other hand, land and physical capital need money and physical inputs to develop. Land and physical capital are useless without human resources.
Answer:
Human resource is different from other resources in many senses. Human resources need education, training and healthcare to develop. On the other hand, land and physical capital need money and physical inputs to develop. Land and physical capital are useless without human resources.
Human resources that are now called by numerous names including people resources, is very complex because it involves people at work. Other resources are mostly inanimate, with the exception of farming animals, thus they are less complicated to look after.
Explanation:
Human resource is different from other resources like land and physical capital in the following ways:
(i) From the perspective of economic development, human resource exhibit multiple importance i.e. human resource act as both producers as well as consumers.
(ii) Human resource makes use of other resources like land and physical capital to produce an output.
(iii) Human resource is considered superior to other resources as it is not confined to one region or place. It can spread to other places and diversity.