Human Resource Development — Flashcards

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Human Resource Development (HRD) is the process of improving the skills, knowledge, and abilities of people to enhance their contribution to economic and social development. It includes investments in…

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Human capital refers to the skills, knowledge, education, training, and experience that individuals possess, which contribute to their productivity in the workforce. For example, a trained engineer ha…

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Human capital focuses only on economic productivity — how educated or skilled a person is for work. Human development is broader and includes life expectancy, education, and standard of living. It val…

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Human resources drive economic development because skilled, healthy, and educated people are more productive. They innovate, use technology efficiently, and improve output. A large population becomes …

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The three components of HDI are: (1) Life expectancy at birth (measures health), (2) Education (measured by mean years of schooling and expected years of schooling), and (3) Per capita income (measure…

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PPP stands for Purchasing Power Parity. It adjusts income levels to account for differences in the cost of living between countries. For example, $1000 in India can buy more goods than $1000 in the US…

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Education improves individual capabilities, increases employment opportunities, and boosts national income. It promotes modern thinking, helps control population growth, and empowers marginalized grou…

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Good health increases life expectancy and enables people to work efficiently and consistently. Healthy individuals contribute more to the economy and require less medical expenditure. For example, a h…