Question

Which of the following factors of production has a unique supply curve?

विकल्प

• Land

• Labour

• Capital

• Entrepreneur

Answer 1

Land

Explanation:

• Land has a unique supply curve because its supply is perfectly inelastic. This means that the quantity of land is fixed and does not change regardless of the price. The supply curve for land is typically represented as a vertical line, indicating that no matter how much the price of land increases or decreases, the quantity of land available remains the same.
• The other factors of production, such as labour, capital, and entrepreneurship, have supply curves that are more responsive to changes in price or other economic conditions.