Question

Explain any five characteristics of the land.

Explain three important characteristics of land.

Answer 1

Five characteristics of land:

1. The land is limited in supply: The supply of land is fixed as it is given by nature.
2. Gifts of nature: Land is a gift of nature that does not have any cost of production. The land is readily available for any use. However, other agents of production are available. at a cost.
3. The primary factor of production: Land is a basic factor of production because it cannot produce anything by itself.
4. The land has alternative uses: Land can be used for alternative uses such as cultivation, dairy or poultry farming, rearing of livestock, the building of houses, playgrounds, etc.
5. Limited in Supply: A peculiar feature of land is its fixed supply. Other factors of production can be increased in supply to a great extent. No human power can alter the supply of land. So land is the only factor of production whose supply is fixed regardless of price.
6. Differs in Location: Land differs in the matter of location. Land in large cities like Delhi, Mumbai and Kolkata is extremely scarce and hence commands a high value. Land located in a river valley is likely to be more productive and richer than land located far away or on a mountain slope. Land located away from good roads and markets is not as desirable as land located near good roads and markets.

Answer 2

1. Land is a free gift of nature. Man has to spend nothing to obtain it.
2. Supply of land is fixed and it cannot be increased.
3. Land is a basic factor of production as land is required in every kind of production.
4. Land is a passive factor of production because it cannot produce anything by itself.