Maharashtra State BoardHSC Commerce 12th Board Exam
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Distinguish Between the Following: Land and Capital - Economics

Distinguish Between

Distinguish between the following:

Land and capital

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Solution

 
Land
 
Capital
Land broadly refers to all the natural resources, flora and fauna, earth, buildings, avenues, air, water, minerals etc.
Capital includes money invested in the business, machinery and tools.
It has inelastic supply.
It has elastic supply.
The factor payment received on land is rent.
 
The factor payment received on capital is interest.
  Is there an error in this question or solution?
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Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 7 Factors of Production
Exercise | Q 1.1 | Page 61
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