ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -They should be willing to work and they should be able to work. People with age 15-60are able to work. Below that and above that are not physically able to work. If a person age is around 15-60and he is physically and mentally able to work he is human resource.

Detailed explanation-2: -A person becomes a human resource when he/she is willing to work, able to work, and belongs to a particular age group.

Detailed explanation-3: -Human resources (HR) is the set of people who make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the individuals command. Similar terms include manpower, labor, personnel, associates or simply: people.

Detailed explanation-4: -People are called human resources because natural resources are made useful by the demands and abilities of people.

Detailed explanation-5: -Human resource becomes human capital when there is investment made in the form of education training and medical care. When the existing human resource is further developed by becoming more educated and healthy we call it human capital formation. Human capital adds to the productive power of the country.