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प्रश्न
Explain in brief, the characteristics of land with respect to its supply and use.
उत्तर
- Limited in Supply: A peculiar feature of land is its fixed supply. Other factors of production can increase the supply to a great extent. No human power can alter the supply of land. So land is the only factor in production whose supply is fixed regardless of price. The supply curve of land is a vertical line at a given quantity.
- Land has many uses: We can make use of land in many ways. On land, cultivation can be done, factories can be set up, roads or railway tracks can be constructed, buildings can be raised, and so on.
APPEARS IN
संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement.
Supply of land is fixed.
Give reason or explain:
The supply of land is inelastic.
Fill in the blank with appropriate alternative given below
______________ is regarded as primary factor of production.
______ is a fixed in supply.
Which of the following is not a characteristic feature of land?
The productivity of land is not affected by ______.
Land is a ______ factor of production.
Land as a factor of production, can earn income in the form of ______.
Land is one of the most important factors of production. In this context, mention two ways in which the efficiency of land can be enhanced?
Explain the meaning of land as a factor of production.
