Key Points

Population is considered an asset, or 'human capital', when investment is made in education, training, and health. It is the stock of skill and productive knowledge that contributes to the Gross National Product (GNP).

Investment in human capital is made through expenditure on education, training, and medical care. This investment yields a return in the future, similar to investments in physical capital like machinery or land.

Economic activities are classified into three sectors. Primary sector includes agriculture and mining. Secondary sector involves manufacturing. Tertiary sector covers services like transport, banking, and education.

Market activities are performed for remuneration (pay or profit) and are included in national income calculations. Non-market activities are for self-consumption (e.g., domestic chores) and are not counted in the national income.

The workforce population includes people in the age group from 15 years to 59 years. Individuals younger than 15 or older than 59 are generally not considered part of the labor force.

The literacy rate is the percentage of the population in a certain age group (usually 7 years and above) that can read and write. The formula is $\text{Literacy Rate} = \frac{\text{Number of Literate Persons}}{\text{Total Population}} \times 100$.

IMR is the number of deaths of infants under one year of age per 1,000 live births in a given year. The formula is $\text{IMR} = \frac{\text{Number of deaths of children < 1 year}}{\text{Total number of live births}} \times 1000$.

The crude birth rate is the number of live births for every 1,000 people in a year. The crude death rate is the number of deaths for every 1,000 people in a year. These are key indicators of a country's demographic situation.

To analyze trends in data tables (e.g., health infrastructure), one can calculate the percentage change. The formula is $\text{Percentage Change} = \frac{\text{Final Value} - \text{Initial Value}}{\text{Initial Value}} \times 100$.

Seasonal unemployment occurs when people are unable to find jobs during certain months of the year. This is common in agriculture, where work is concentrated during sowing and harvesting seasons.

Disguised unemployment exists when more people are engaged in an activity than are needed. If a task requires $M$ workers but $N$ workers are employed ($N > M$), then the extra $N - M$ workers are disguisedly unemployed.

Educated unemployment is a situation where individuals with matriculation, graduation, or post-graduation degrees are unable to find suitable jobs. This represents a wastage of human capital resources.

GER is a statistical measure of the total enrolment within a country in a particular level of education, expressed as a percentage of the population of the official age for that education level.

A 'virtuous cycle' is created when educated parents invest in their children's health and education, leading to a more productive next generation. A 'vicious cycle' occurs when disadvantaged parents cannot invest, perpetuating the state of disadvantage.