Question

Supply of land is fixed. (State with reasons whether you agree or disagree with the given statements)

Answer 1

agreed
supply of land is fixed
the amount of soil which is present on the Earth's surface neither can be extended for can be compressed
land is again categorized into many categories like forests , grasslands , etc

Answer 2

Agree, Supply of land is fixed.

Explanation:

• The whole land area of globe (in the power of the plane area accessible to men) is fixed.
• First, supply of land is fixed or inelastic from the people’s point of view. Though they are separate, however, supply of land is price- elastic.
• But, the supply of capital and labour is alterable by people’s try in the long run.

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