Explain land as a factor of production.
Answers
Explanation:
Land is a resource having finite magnitude and it helps in production is following ways :-
•Agriculture
→It is done by culturing of soil present in land .
→In this way land helps in production of crops .
→These crops helps in production in primary activities .
•Industry
→Raw materials gained from agriculture .
→They are processed here to make useful things .
→Further , it helps in development of another things .
→Industrialist are created on land to increase production .
•Services
→ land is used to transport things which helps in transfer of one product produced in one place to another .
Answer:
hey mate here is your answer....
Explanation:
☑️ Land as factors of production
➡️ Normally land is the upper layer of surface of the earth. But in terms of economics land mean different types of natural resources, which includes forests, rivers, mountains, minerals present in the interior of the earth, metals etc. present on the earth surface. Thus land is natural tool for production.
Hope it helps!☺️