Question

Explain in brief the characteristic of land with respect to its supply and use.

Answer 1

(i) The supply of land is fixed as neither land can be stretched nor anything can be added to it to increase its availability.
(ii) Land is used for alternative purpose like cultivation, dairy or poultry farms, sheep rearing, building etc. The use of land for any particular purpose depends not only on the return from that particular use, but also its returns from alternative uses.