Choose if the following statement is True/False.

People are the greatest resource that a country has.

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True

False

answer is A.

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Detailed Solution

The above statement is True.
Humans are the best resource because:
1)      Human Capital - Human capital refers to people's knowledge, abilities, and life experiences that help govern a nation's physical resources.
2)      Labour - People in the nation provide labour and factor services in various economic sectors, which indirectly keeps businesses and corporations operating.
3)      Contribution to GDP - the creation of goods and services aids in the process of preserving the gross domestic product.
By offering their services, they help to increase the economy's gross domestic product (GDP). People vary in ability, sex, race, and age. Great economic growth will result if individuals are distributed based on their abilities.

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