Characteristics of land as factor of production

Characteristics of land as factor of production

  1. Its supply is fixed.
  2. Land is a gift of nature.
  3. It is geographically  immobile that is, it cannot be transferred   from one place to another.
  4. It is occupationally  mobile that is, it can be used for various purposes.
  5. Land is not homogenous  for example some land is fertile and another is infertile.
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