Question

Which of the following used in the production of textile by a firm would be classfied as land in economics?

Options

• Weaving machines

• Factory building

• Unskilled workers

• Water taken from a nearby river

Answer 1

Water taken from a nearby river

Explanation:

• In economics, land refers to natural resources used in the production process. These include resources like water, minerals, and forests.
• Water taken from a nearby river is a natural resource and, therefore, classified as land in economics.
• The other options, such as weaving machines, factory buildings, and unskilled workers, fall under different categories, such as capital (machines and buildings) and labor (workers).