land and capital are scarce yet there is a basic difference between the two. state the difference.
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The difference between the land and capital:
The land is a natural resource, whereas the capital represents the financial assets which are in the form of cash, or any equipment.
The supply of the land is finite, whereas the supply of the capital is infinite.
The land has long life, on the other hand the capital can be demolished and has a shorter life.
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Answer:
The difference between the land and capital: ... The supply of the land is finite, whereas the supply of the capital is infinite. The land has long life, on the other hand the capital can be demolished and has a shorter life.
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