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What of the following defines the term land as a factor of production?

Updated: 4/28/2022

Wiki User

∙ 6y ago

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everything that is not created by humans

Denise Preston ∙

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∙ 3y ago

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Q: What of the following defines the term land as a factor of production?

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Continue Learning about Economics

What is considered the passive factor in production?

land

What is an example of land as a factor of production?

Farm - primary source of land for production. Refinement / manufacturing plant uses the land to produces goods.

Which is the most important factor of production?

land , labor and capital

Which factor of production is used by manufacturing firms for a physical location?

land

What would be the factors of production in the case of a school?

Factor of production will be :land,labour, capital,teachers and students

Related questions

What is considered the passive factor in production?

land

What is considered the passive factor production?

land

A characteristic of the factors of production?

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.

What are the risks in farming?

scarcity of factor of production land

Ground water is an example of which factor of production?

land

What do you understand by land?

Land as a factor of production is a free gift of nature and is fixed.

What is an example of land as a factor of production?

Farm - primary source of land for production. Refinement / manufacturing plant uses the land to produces goods.

Which is the most important factor of production?

land , labor and capital

What do you understand by land consolidation?

Land as a factor of production is a free gift of nature and is fixed.

Which factor of production includes such things as plants and minerals used to create products?

land

Which factor of production is being under-utilized when unemployment is a problem?

land

Which factor of production is used by manufacturing firms for a physical location?

land

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