describe the features of land as a factor of production
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Characteristics of Land As a Factor of Production. ... The factors of production are land, labor, capital and entrepreneurship. Land refers to soil, metals and all other natural resources.
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a. Land is a fixed factor of production.
b. It is a free gift of nature.
c. It is a passive factor of production.
d. Production from the same piece of land can be increased by using various modern techniques.
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