Monday, 15 July 2019

Class 9 People as Resource

Important Points

Resources -A stock or supply of money, materials,staff and other assets that can be drawn on by a person or organization in order to function effectively.

Human Capital- The skills, knowledge and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Gross National Product- GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

Liability- The state of being legally responsible for something.

Economic Activities- are related to production, distribution, exchange and consumption of goods and services.

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