Land
- the natural fertility of the soil
- the minerals in the earth’s surface and
- forests, rivers and the riches in the
sea.
Features
of Land
- Land is a gift of nature
- Land is a natural resource
- Land is a permanent fixture
- Land is fixed in supply
- Land is geographically immobile
- Land is occupationally mobile
- Man does not produce land
- There is no cost of production to produce land
Supply
of Land
Supply of land is fixed. But the supply of land for a
particular use can be increased or decreased. For example; the supply of land
available for Housing can be increased by reducing the supply of land for
Agriculture.
