Correct Option
The correct option is (a) 1 and 2 only.
Explanation
The concept of 'People as Resource' is a terminology used in economics to describe a country’s population as an asset rather than a liability. It focuses on the transformation of the population into human capital through investments in education, training, and healthcare.
Statement-wise Analysis
- Statement 1 is Correct: 'People as Resource' specifically refers to a country’s working people in terms of their existing productive skills and abilities. It acknowledges the potential of the workforce to generate value.
- Statement 2 is Correct: By viewing the population as a resource, the focus shifts to their productive aspect. It emphasizes the population's ability to contribute to the creation of the Gross National Product (GNP), similar to other resources like land and physical capital.
- Statement 3 is Incorrect: The core premise of this concept is to view the population as an asset for the economy rather than a liability. While a large population is often viewed as a burden (liability) in terms of providing food, shelter, and jobs, the 'People as Resource' framework highlights that with proper investment, this population becomes a productive asset (Human Capital).
Key Takeaway
'People as Resource' signifies the transformation of the population into human capital, emphasizing its role in economic production and GNP creation, contrasting with the view of population merely as a consumer or liability.