There are many agents of production and land is different from them. Explain its peculiarities.

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Solution

1) The land is a gift of nature. It includes natural resources.
2) The supply of land is fixed since it is a gift of nature.
3) The efficiency of land can be increased by several methods.
4) The land is a passive factor of production since, without labour, the land has no use.

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What are the peculiarities of land?

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There are many agents of production and land is different from them. Explain its peculiarities.

1) The land is a gift of nature. It includes natural resources.2) The supply of land is fixed since it is a gift of nature.3) The efficiency of land can be increased by several methods.4) The land is a passive factor of production since, without labour, the land has no use.

1) The land is a gift of nature. It includes natural resources.
2) The supply of land is fixed since it is a gift of nature.
3) The efficiency of land can be increased by several methods.
4) The land is a passive factor of production since, without labour, the land has no use.