Advertisements
Advertisements
Question
How is land different from labour?
Solution 1
The land is different from labour in the following ways:
- Land is limited in supply: The supply of land is fixed as it is given by nature. But other factors of production can increase the supply to a greater or lesser extent.
- Gifts of nature: Land is a gift of nature which does not have any cost of production. The land is readily available for any use. However, other agents of production are available at a cost.
Solution 2
Land and labour can be differentiated as follows:
- The land is immobile, while labour is mobile.
- Land is a passive factor of production, while labour is an active factor of production.
- Rent is paid on land, while wages are paid to labour.
- The supply of land is fixed, while the supply of labour is variable.
- Land is a medium to meet the ends, while labour is both a medium and an end.
APPEARS IN
RELATED QUESTIONS
How does land differ from other factors of production with respect to its supply?
Define land.
Distinguish between the following.
Land and capital.
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.
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.
Explain in brief, the characteristics of land with respect to its supply and use.
How is land as a factor of production differ from any other factor of production?
