Question

The land is fixed in two senses.

Options

• Supply and mobility

• Demand and immobility

• Man-made and perishable

• All of the above

Answer 1

Supply and mobility

Explanation:

• Land is fixed in terms of supply because the total amount of land is limited and cannot be increased, and it is fixed in mobility because land cannot be moved from one location to another.
• These characteristics affect its value and use in production.