Question

Define land and state the factors that determine the productivity of land.

Answer 1

Land, In economics, is a factor of production that encompasses the natural resources used in production. Broadly land includes all that nature provides, including minerals, forest products, and water and land resources. The payment for land is called rent.

Major factors that determine the productivity of land:

1. Quality of Land.

2. Means of Irrigation.

3. Proper Use of Land.

4. Trained Labour.

5. Ownership of Land.

6. Government Policies.