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Question
The land is fixed in two senses.
Options
Supply and mobility
Demand and immobility
Man-made and perishable
All of the above
Solution
Supply and mobility
Explanation:
- Land is fixed in terms of supply because the total amount of land is limited and cannot be increased, and it is fixed in mobility because land cannot be moved from one location to another.
- These characteristics affect its value and use in production.
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