Chapter 1

NCERT
Class 9
Economics
Solutions
1. Looking at the photograph can you explain how a doctor, teacher, engineer and a tailor are an asset to the economy?

Question:

Looking at the photograph can you explain how a doctor, teacher, engineer and a tailor are an asset to the economy?

Answer:

(i) A population becomes human capital when there is investment made in the form of education, training and medical care.

(ii) Human capital is the stock of skills and productive knowledge embodied in them.

(iii) Investment made in the form of education and training in making a doctor, a teacher an engineer and a tailor, has increased their capabilities of providing different services to the people of the country and therefore they are an asset to the economy of a nation.

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