Choose the given statement is True/False

People as a resource is a liability to any economy.

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True

False

answer is B.

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Detailed Solution

The given statement is false.
People as a resource or human capital is one of the best resources a country can get. Other resources are of little use if a country does not have enough human resources. Only people can put other resources like land, building, and machinery to the best service. But these people must be good enough to make the best decisions concerning using other resources. Investments in education and health help realise and improve people's potential. These people can work for the economic and social welfare of an economy. A healthy and literate population, or people as a resource, is an asset to any economy. Hence the correct statement would be, People as a resource are an asset to any economy.

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