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Give Reason Or Explain: the Supply of Land is Inelastic. - Economics

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प्रश्न

Give reason or explain:

The supply of land is inelastic.

टीपा लिहा

उत्तर

The supply of land is inelastic which means that it is less responsive to the changes in its price. This is because of its limited availability. Thus, even when the price of the land increases, its supply cannot be increased.

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पाठ 7: Factors of Production - Exercise 2 [पृष्ठ ६०]

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मायकल वाझ Economics [English] 12 Standard HSC
पाठ 7 Factors of Production
Exercise 2 | Q 2.3 | पृष्ठ ६०

व्हिडिओ ट्यूटोरियलVIEW ALL [1]

संबंधित प्रश्‍न

Features of Land.


Define or Explain the following  concepts

Land


Why do small farmers suffer during inflation?


How is land different from labour?


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


Explain briefly two factors affecting the productivity of the land.


Briefly explain two methods that increase land productivity.


Define land.


Explain four characteristics of land as a factor of production.


State whether the following statements are TRUE or FALSE with reason:

 Land is a man made factor of production. 


Answer the following question.
What are the peculiarities of land?


State with reason whether you agree or disagree with the following statement.
Supply of land is fixed.


Distinguish between the following:

Land and capital


Define or explain the following concept:

Land


Fill in the blank with appropriate alternative given below

Land is subject to ___________ returns.


State two factors that affect the productivity of the land.


Explain any five characteristics of the land.


______ is a fixed in supply.


What are the characteristics of land?


______ of Land differs in different places of the land.


Land is a ______ factor of production.


What is the meaning of the productivity of land?


Explain any three factors affecting productivity of land.


Read the extract and answer the following questions.

Shruti and her friends have an idea to start selling makeup kits. They already have saved money for the merchandise, models and displays. Since they all own the company, they will work for free.
  1. Name the factor of production which is not mentioned.
  2. Explain any four characteristics of the above (a) factor of production.

Factors of production are ______.


______ is not a primary factor of production.


Which of the following is not a characteristic feature of land?


Which of the following are considered as factors of production?


The land is fixed in two senses.


Land is a ______ factor of production.


Land as a factor of production, can earn income in the form of ______.


As land cannot produce anything by itself, therefore it is called a ______ factor of production.


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?


Land is heterogeneous in nature. Explain.


How is land as a factor of production differ from any other factor of production?


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


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