A characteristic of the factors of production?

Answer 1

I think land is a passive factor of production because you would have to develop that land in order for you to produce. So it does not actively participate in your business unless you make something of it. An exampl is when you but a lot. If you do not develop it into a house, commercial space or a rental space then it will sit passively or idle and your investement will just be frozen and not be productive.

Answer 2

land is a different type of factor of production than others. it possesses the following characteristics:-

1) free gift of nature- land is a gift of nature given to man free of cost

2) land is limited in supply- other factors of production can be increased in supply to a greater or lesser extent. but it is impossible to increase the supply of land

3) land is a primary factor of production- in every kind of production, we have to make use of land

4) land is a passive factor of production- land is a passive factor of production because it cannot produce anything by itself

5) land is permanent- land is indestructible

6)land is immovable

7) land varies in fertility

8) land differs in location

9) land has many uses

scarcity

Answer 3

scarcity -