Question

what are the peculiarties of land"

Answer 1

Answer:

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Answer 2

In Microeconomics or Production Economics,land is one of the very important factors/inputs of production which has certain peculiarities of unique characteristics.

Explanation:

Key peculiarities of land as a factor/input of production:-

1. Nature's providence: Land is basically a natural gift available to mankind.Land is an essential fixed or finite natural resources which are universally employed for various productive commercial purposes thereby,eventually contributing to economic growth.Since,it is a finite natural resource,every piece of land is assigned a specific market value which depends on the type of land ownership.
2. Diversified nature of land:Land is basically heterogeneous in nature or texture.The texture or type of land varies according to its geographical location.A piece of land located in desert area will usually be dry,rough an barren in comparison to one located in tropical region which is green,full of moisture and much more arable or cultivable.
3. Finite of Fixed:Land is a natural resource which is fixed or finite in size.Therefore,it cannot be physically stretched or extended through human efforts or manipulation.The land size in the earth is already naturally predetermined and cannot be manipulated based on human efforts and intentions.
4. Static:A piece of land is not portable or movable from one physical or geographical location to the other.In the case of other factors/inputs of production such as labor,capital or physical factors of production or raw materials,these resources can be physically transported from one location to the other for commercial use and purposes.Land is a fixed factor/input of production that cannot be ported physically or geographically unlike other factors/inputs of production.
5. Cannot be destroyed:Land is a resource provided and cannot be completely destroyed.It exists since the beginning of this world and will remain until the end of the world.Its form and condition can be altered through human intervention in accordance with its use or utility but cannot be completely demolished.