explain the concept of pressure on land in economics
Answers
Answer:
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The basic concept of land is that it is a piece of earth, namely a piece of property that has an owner. A more delineated concept of land, the legal concept of land, is that it is a factor of some form of production, and though it is not consumed during this production, no production would be possible without it.In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed.Those types include recreational, transport, agricultural, residential, and commercial.Land is rich in coal, water and petroleum, which are used for generating power. Land is required to construct factories and industries to carry out the production process. Land is of great importance to mankind. A nation's economic wealth is directly related to the richness of its natural resources.
Explanation:
Pressure' on resources has been defined as actual output (or produc- tivity) relative to potential output (or productivity). ... On the other hand, if inter- regional migration*is free while land is not scarce, the stock of labour will represent the stock of resources as a whole and therefore potential output.