Land and its features
Posted inEconomics XI

Land and its features

No Comments

Land: land refers to all natural resources which are free gift of nature. It includes soil, rivers, waters, forests, mountains, mines, deserts, air, sun etc. Features/characteristics of land: Limited in supply: land is fixed in supply. Human efforts can not extend or contract the size of land. Free gift of nature: Land is given to us free of cost by nature. There is no cost of production of land but it holds market value or price which depends on its fertility or productivity of land………

Comments

No comments yet. Why don’t you start the discussion?

Leave a Reply

Your email address will not be published. Required fields are marked *