Advertisements
Advertisements
Question
Answer the following question.
What are the peculiarities of land?
Solution
Land refers to the earth's surface. According to Dr. Alfred Marshall, land also includes water, air, heat, light, coal, gold etc.
The following are some of the features of land:
i. Free gift of nature - All the resources which form a part of land are given to mankind as free gifts of nature.
ii. Inelastic supply - The endowment or supply of land is fixed and cannot be increased by human efforts.
iii. Derived demand - Land is used in the production of goods meant for final consumption. Since it cannot be directly consumed for the satisfaction of human wants, it is said to have a derived demand.
iv. Zero mobility - Land is fixed. It cannot be moved from one place to the other. Thus, land is said to be immobile.
v. Homogenous- Land is homogenous in the sense that it differs in terms of its quality. Accordingly, the rent differs from one land to another.
vi. Derived demand- The demand for land is derived demand because it depends on the demand for the goods and services in the production of which it will be used.
APPEARS IN
RELATED QUESTIONS
Define or Explain the following concepts
Land
Why do small farmers suffer during inflation?
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 the importance 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.
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
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.
Fill in the blank with appropriate alternative given below
Land is a free gift of _______________.
Mention two ways by which land differs from other factors of production.
State two factors that affect the productivity of the land.
Explain any five characteristics of the land.
What are the characteristics of land?
Students are asked to visit local farmers and to discuss the land and its characteristics. Collect some photographs of land and make an album.
______ of Land differs in different places of the land.
The total quantity of land does not undergo any change.
Consider the following statement and choose the appropriate answer:
- Land is movable
- Land differs infertility.
- Land has some original Indestructible powers.
- The land is perishable.
Explain any three factors affecting productivity of land.
Factors of production are ______.
______ is not a primary factor of production.
Which of the following is not a characteristic feature of land?
Identify the correct statement from the following.
Which of the following are considered as factors of production?
Which of the following is not a characteristic of land?
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?
State two functions of land as a factor of production.
Explain in brief, the characteristics of land with respect to its supply and use.
Land is heterogeneous in nature. Explain.
Which of the following factors of production has a unique supply curve?
Explain two functions of land.
