which one of the factors of production is fixed or scarce (a. capital, b. market, c. land, d. labour)?
Answers
Answer:
land(c)
Explanation:
As land is fixed and is nowadays very scarce due to high usage
Answer:
a. capital
capital One of the factors of production is fixed or scarce.
Explanation:
Small farmers typically need to borrow money to arrange for capital and are put in a difficult position to repay the loan. As a result, capital is also a scarce factor of production, particularly for small farmers. Land is the most scarce factor in comparison to capital, entrepreneurs, and labor because it is limited and only a certain amount can be used. Despite the fact that both land and capital are scarce, there is a fundamental difference between the two factors of production. is a natural resource, whereas is a man-made resource. Capital can be increased, whereas land is fixed.