Write short note on Features of Land.
The term ‘Land’ in economics is often used in a wider sense. It does not
mean only the surface of the soil, but it also includes all those natural
resources which are the free gifts of nature.
Features of Land:
1. Free Gift of Nature:
Man has to make efforts in order
to acquire other factors of production. But to acquire land no human efforts
are needed. Land is not the outcome of human labour. Rather, it existed even
long before the evolution of man.
2. Fixed Quantity:
The total quantity of land does
not undergo any change. It is limited and cannot be increased or decreased with
human efforts. No alteration can be made in the surface area of land.
3. Land is Permanent:
All man-made things are perishable
and these may even go out of existence. But land is indestructible. Thus it
cannot go out of existence. It is not destructible.
4. Land is a Primary Factor of
Production:
In any kind of production
process, we have to start with land. For example, in industries, it helps to
provide raw materials, and in agriculture, crops are produced on land.
5. Land is a Passive Factor of
Production:
This is because it cannot produce
anything by itself. For example, wheat cannot grow on a piece of land
automatically. To grow wheat, man has to cultivate land. Labour is an active
factor but land is a passive factor of production.
6. Land is Immovable:
It cannot be transported from one place to
another. For instance, no portion of India’s surface can be transported to some
other country.
The term ‘Land’ in economics is often used in a wider sense. It does not mean only the surface of the soil, but it also includes all those natural resources which are the free gifts of nature.
Features of Land:
1. Free Gift of Nature:
Man has to make efforts in order to acquire other factors of production. But to acquire land no human efforts are needed. Land is not the outcome of human labour. Rather, it existed even long before the evolution of man.
2. Fixed Quantity:
The total quantity of land does not undergo any change. It is limited and cannot be increased or decreased with human efforts. No alteration can be made in the surface area of land.
3. Land is Permanent:
All man-made things are perishable and these may even go out of existence. But land is indestructible. Thus it cannot go out of existence. It is not destructible.
4. Land is a Primary Factor of Production:
In any kind of production process, we have to start with land. For example, in industries, it helps to provide raw materials, and in agriculture, crops are produced on land.
5. Land is a Passive Factor of Production:
This is because it cannot produce anything by itself. For example, wheat cannot grow on a piece of land automatically. To grow wheat, man has to cultivate land. Labour is an active factor but land is a passive factor of production.
6. Land is Immovable:
It cannot be transported from one place to another. For instance, no portion of India’s surface can be transported to some other country.
