Land is a Natural & Primary Factor of Production ↓
Land is not created by mankind but it is a gift of nature. So, it is called as natural factor of production. It is also called as original or primary factor of production. Normally, land means surface of earth. But in economics, land has a wider meaning. Take a good look at the following picture :-
Image Credits © Amanda Platt.
From the above
Friday, 26 November 2010
Land is a Natural Factor of Production - Features of Land
Posted on 06:25 by Unknown
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