Land as a Factor of Production The factors of production are the resources (input) used to produce final products (output). They refer to all tangible and intangible resources that are combined or co-ordinated for the production of goods and services. There are four (4) factors of production namely:
Land Labour Capital Entrepreneurship Land This refers to all natural resources available for production purposes such as water resources, lakes, forests, mineral deposits, etc. Marshall has defined land as “the materials and the forces which nature gives freely for man’s aid, in land and water, in air and light and in heat.”
Features of Land It is a free gift of nature. It is considered an immobile factor of production. It is subject to the law of diminishing returns. The reward for land is rent . It is considered to be available in fixed quantity; therefore, it does not have a supply price. This implies that the change in price of land does not affect its supply. Continue With the Mobile App | Available on Google Play [Attributions and Licenses]
Exponents
Operators
Brackets
Arrows
Relational
Sets
Greek
Advanced
\( a^{b}\)
\( a_{b}^{c}\)
\({a_{b}}^{c}\)
\(a_{b}\)
\(\sqrt{a}\)
\(\sqrt[b]{a}\)
\(\frac{a}{b}\)
\(\cfrac{a}{b}\)
\(+\)
\(-\)
\(\times\)
\(\div\)
\(\pm\)
\(\cdot\)
\(\amalg\)
\(\ast\)
\(\barwedge\)
\(\bigcirc\)
\(\bigodot\)
\(\bigoplus\)
\(\bigotimes\)
\(\bigsqcup\)
\(\bigstar\)
\(\bigtriangledown\)
\(\bigtriangleup\)
\(\blacklozenge\)
\(\blacksquare\)
\(\blacktriangle\)
\(\blacktriangledown\)
\(\bullet\)
\(\cap\)
\(\cup\)
\(\circ\)
\(\circledcirc\)
\(\dagger\)
\(\ddagger\)
\(\diamond\)
\(\dotplus\)
\(\lozenge\)
\(\mp\)
\(\ominus\)
\(\oplus\)
\(\oslash\)
\(\otimes\)
\(\setminus\)
\(\sqcap\)
\(\sqcup\)
\(\square\)
\(\star\)
\(\triangle\)
\(\triangledown\)
\(\triangleleft\)
\(\Cap\)
\(\Cup\)
\(\uplus\)
\(\vee\)
\(\veebar\)
\(\wedge\)
\(\wr\)
\(\therefore\)
\(\left ( a \right )\)
\(\left \| a \right \|\)
\(\left [ a \right ]\)
\(\left \{ a \right \}\)
\(\left \lceil a \right \rceil\)
\(\left \lfloor a \right \rfloor\)
\(\left ( a \right )\)
\(\vert a \vert\)
\(\leftarrow\)
\(\leftharpoondown\)
\(\leftharpoonup\)
\(\leftrightarrow\)
\(\leftrightharpoons\)
\(\mapsto\)
\(\rightarrow\)
\(\rightharpoondown\)
\(\rightharpoonup\)
\(\rightleftharpoons\)
\(\to\)
\(\Leftarrow\)
\(\Leftrightarrow\)
\(\Rightarrow\)
\(\overset{a}{\leftarrow}\)
\(\overset{a}{\rightarrow}\)
\(\approx \)
\(\asymp \)
\(\cong \)
\(\dashv \)
\(\doteq \)
\(= \)
\(\equiv \)
\(\frown \)
\(\geq \)
\(\geqslant \)
\(\gg \)
\(\gt \)
\(| \)
\(\leq \)
\(\leqslant \)
\(\ll \)
\(\lt \)
\(\models \)
\(\neq \)
\(\ngeqslant \)
\(\ngtr \)
\(\nleqslant \)
\(\nless \)
\(\not\equiv \)
\(\overset{\underset{\mathrm{def}}{}}{=} \)
\(\parallel \)
\(\perp \)
\(\prec \)
\(\preceq \)
\(\sim \)
\(\simeq \)
\(\smile \)
\(\succ \)
\(\succeq \)
\(\vdash\)
\(\in \)
\(\ni \)
\(\notin \)
\(\nsubseteq \)
\(\nsupseteq \)
\(\sqsubset \)
\(\sqsubseteq \)
\(\sqsupset \)
\(\sqsupseteq \)
\(\subset \)
\(\subseteq \)
\(\subseteqq \)
\(\supset \)
\(\supseteq \)
\(\supseteqq \)
\(\emptyset\)
\(\mathbb{N}\)
\(\mathbb{Z}\)
\(\mathbb{Q}\)
\(\mathbb{R}\)
\(\mathbb{C}\)
\(\alpha\)
\(\beta\)
\(\gamma\)
\(\delta\)
\(\epsilon\)
\(\zeta\)
\(\eta\)
\(\theta\)
\(\iota\)
\(\kappa\)
\(\lambda\)
\(\mu\)
\(\nu\)
\(\xi\)
\(\pi\)
\(\rho\)
\(\sigma\)
\(\tau\)
\(\upsilon\)
\(\phi\)
\(\chi\)
\(\psi\)
\(\omega\)
\(\Gamma\)
\(\Delta\)
\(\Theta\)
\(\Lambda\)
\(\Xi\)
\(\Pi\)
\(\Sigma\)
\(\Upsilon\)
\(\Phi\)
\(\Psi\)
\(\Omega\)
\((a)\)
\([a]\)
\(\lbrace{a}\rbrace\)
\(\frac{a+b}{c+d}\)
\(\vec{a}\)
\(\binom {a} {b}\)
\({a \brack b}\)
\({a \brace b}\)
\(\sin\)
\(\cos\)
\(\tan\)
\(\cot\)
\(\sec\)
\(\csc\)
\(\sinh\)
\(\cosh\)
\(\tanh\)
\(\coth\)
\(\bigcap {a}\)
\(\bigcap_{b}^{} a\)
\(\bigcup {a}\)
\(\bigcup_{b}^{} a\)
\(\coprod {a}\)
\(\coprod_{b}^{} a\)
\(\prod {a}\)
\(\prod_{b}^{} a\)
\(\sum_{a=1}^b\)
\(\sum_{b}^{} a\)
\(\sum {a}\)
\(\underset{a \to b}\lim\)
\(\int {a}\)
\(\int_{b}^{} a\)
\(\iint {a}\)
\(\iint_{b}^{} a\)
\(\int_{a}^{b}{c}\)
\(\iint_{a}^{b}{c}\)
\(\iiint_{a}^{b}{c}\)
\(\oint{a}\)
\(\oint_{b}^{} a\)
Edit math using TeX:
This tutorial has help me a lot
The first thing to know about land is that it is a free gift of nature