Page 8 - 08_Social_Studies and Population Education Book 8_2078 Revised and Updated Edition

a) Natural resources b) Human resources c) Financial resources

a) Natural resources: The resources which
are gifted by nature are known as natural
resources. Water, air, herbs, sunlight,
geographical feature, hills, mountains,
minerals, etc are the examples of natural
resources.

b) Human resources: Every nation strives to
educate the people living in their country
in order to produce skilled and educated
human resource. Human resources refer
to manpower, intellectual ability, labor,
skill, etc. Human resource is a major factor
affecting the development of a country. The
lack of human resource has been seen as the
main reason of slow development in many
countries.

c) Financial resources: Financial resources
mean the capital, currency, financial system,
etc. It is also one of the major factors affecting
the development process. The country which
has a good financial status is developed more
quickly and efficiently compared to those
countries whose financial status is weak. This is the factor which determines
whether a country is developed, developing or under-developed. The ratio
of financial activities increases with the rise in the income and expense level
of the people. The financial activities set the pace of development in the
society.
If a nation is rich in resources then it can be developed. Stable government,
honest politicians, visionary leaders and commitment are some of the other
factors determining the smooth development of a country. Active participation
of people is also required for the development of any country. They should
be creative and hardworking. When all these factors come together and work
harmoniously then only effective development is possible in any country.

Note to the teacher: Development can be defined as progress. It is possible to make the concept of
development clear by involving students in activities like games, observations and discussions.
8 SOCIAL STUDIES - GRADE 8