define sheet between land and capital
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Land is a purely natural resource whereas capital comprises anything which has value. Ex. - money, gold, machinery etc. ... Land is a primary factor of production meaning it is absolutely necessary for production whereas capital is a secondary factor of production.
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In economics land includes all natural resources which are available on, above, and under the surface of the earth. In economics, capital refers to that of wealth which is used for further production of wealth. Nature of Factor. Land is the natural factor of production, it is permanent in nature.
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