People as Resource

People as resource’ refers to a country’s working people in terms of their existing productive skills and abilities.

When existing human resource is developed by becoming educated and healthy it turns into human capital.

Human capital is superior to other resources like land and physical capital, as it uses these capitals and adds value to them.

Investment in human capital via education and medical care can give high returns in the future. Country like Japan have invested a lot in human resources. They do not have rich natural resources, but still they are called developed nations.

Human beings perform many activities which can be grouped into economic and non-economic.