Question

write three difference between land and capital in shorrt

Answer 1

Although land can be said to be a form of capital, the major differences between the two are:

1. Land is a purely natural resource whereas capital comprises anything which has value. Ex. - money, gold, machinery etc.

2. Whereas land is a fixed resource, there is no limit to the amount of capital that can be raised.

3. Land is a primary factor of production meaning it is absolutely necessary for production whereas capital is a secondary factor of production.

Answer 2

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this ans was given in my brothers copy...