experts please explain the following:

(A)Define human capital. Explain the role of human capital in economic development ?
(B)Critically evaluate rural and urban unemployment?
 

Dear Students,

(A) Human Capital is a stock of skills that can be use by them to produce something into its economics value ,

Role of Human Capital in Economic Development are :

• Increase in Productivity : As , human capital is an advanced educated labour force that have the ability to work effective and efficiently. so if the work is done in effective and efficient , in turn this will lead to increase the productivity of materials in the country.
•  Innovation : due to advance in technology and high level of knowledge , these labour force can be able to use the machine more efficiently and use new techniques and can improve the old techniques into the newone also.

(B) Rural Unemployment : this is one of the type of unemployment which is found only in rural areas. ( Unemployment in Agriculture Sector) . These are mainly of 2 types : 

• Disguised Unemployment : It means when maximum of the utility power of the labour are not utilised properly or we csn say that when more of the people are employed than required . For ex. land required only 4 person to cultivate it but 10 people are working on it , then 6 people are in disguised unemployment.
• Seasonal Unemployment : It means when a person gets employment in a particular season of the year is called seasonal unemployment. For ex. Agriculture Labourers.

Urban Unemployment : This means when the unemployment are in the urban sectors of the countries. this is formally divided into the 2 types which are as follows :

• Educated Unemployment : It means when the person have all the qualification for the work but does not abe to get the job.
• Structural Unemplyment : It means when the person loses his/her job due to the shift in technological advancement in the economy .

Regards.