Write any three differences between land and capital.
Answers
Answered by
2
Answer:
LAND CAPITAL
Nature of Factor Land is the natural factor of production, it is permanent in nature. Capital is a man made factor of production. It lacks permanency.
Elasticity The elasticity of land is perfectly inelastic. The elasticity of capital is relatively elastic.
Answered by
3
Answer:
Land:- Land is motionless. Supply of land is fixed. It is a free gift of nature and limited in supply. Land is permanent and indestructible.
Capital:- Capital is moved easily. Supply of capital can be increased or decreased. Capital is perishable. Capital is man-made.
Similar questions