Choose the given statement is True/False

Human resources are the same as that land and physical capital.

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True

False

answer is B.

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Detailed Solution

The given statement is false.
Land and other physical capital are useless without proper human resources. Therefore, only human resources can best use the available land and other resources. It should also be mentioned that scarcity of resources like land and additional capital can be better off with the help of productive human resources. Take, for example, the case of Japan. Japan is a rich and developed country. But, it faces a shortage of natural resources. However, the country became prosperous due to its investments in health and education. Hence the correct statement would be, Human resources are superior to land and other capital.

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