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How Does Land Differ from Other Factors of Production with Respect to Its Supply? - ICSE Class 10 - Economics

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Question

How does land differ from other factors of production with respect to its supply?

Solution

The supply of land is fixed. It is a gift of nature and it is impossible to increase the supply of land. Other factors of production can be increased in supply to a greater or lesser extent. Hence, land differs from other factors of production with respect to its supply.

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APPEARS IN

 2016-2017 (March) (with solutions)
Question 1.1 | 2.00 marks
Solution How Does Land Differ from Other Factors of Production with Respect to Its Supply? Concept: Factors of Production Land.
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