Do you agree with the statement that human resource has developed into the main economic factor?explain in brief with example.
I agree with the given statement. As an explanation for the given question, you can mention the points given in the following link under the topic 'Interrelationship between human capital and economic growth'
https://www.meritnation.com/cbse/class11-commerce/studymaterial/economics/indian-economic-development/unit-iiihuman-capital-formation-in-india/442_2487_6386#slide1_Role of Human Capital in Economic Growth and Development
For example, Higher the quantum of skilled and qualified human capital in an economy, higher will be the productivity of the people. This in turn, will lead to an increase in their income. Therefore, human resource has developed into the main economic factor.
https://www.meritnation.com/cbse/class11-commerce/studymaterial/economics/indian-economic-development/unit-iiihuman-capital-formation-in-india/442_2487_6386#slide1_Role of Human Capital in Economic Growth and Development
For example, Higher the quantum of skilled and qualified human capital in an economy, higher will be the productivity of the people. This in turn, will lead to an increase in their income. Therefore, human resource has developed into the main economic factor.