Advertisements
Advertisements
प्रश्न
Give two characteristic features of land as a factor of production.
थोडक्यात उत्तर
उत्तर
The land is a different type of factor of production than others. It possesses the following characteristics:
- Free Gift of Nature: Land is a gift of nature given to man free of cost. A man has to spend nothing to obtain it. He has to make no effort to get it. The land has no cost of production. All other factors of production have to be produced at a cost.
- 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.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
APPEARS IN
संबंधित प्रश्न
Features of Land.
How does land differ from other factors of production with respect to its supply?
Explain briefly two factors affecting the productivity of the land.
State whether the following statement is TRUE and FALSE.
Land is a free gift of nature.
Fill in the blank with appropriate alternative given below
Land is subject to ___________ returns.
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. |
- Name the factor of production which is not mentioned.
- Explain any four characteristics of the above (a) factor of production.
Factors of production are ______.
Land is an ______ factor of production.
Which of the following is not a characteristic of land?
Land is a ______ factor of production.
