Q.What are the characteristics of land?

In economics land means all natural resources; its key features are that it is a free gift of nature, fixed in supply, permanent, immobile, heterogeneous, and a passive primary factor.

In economics, land means not just the soil but all the free gifts of nature — fields, forests, minerals, water, climate. Its characteristics are:

• Free gift of nature — it is provided by nature and not produced by human effort.
• Fixed / inelastic supply — the total quantity of land is fixed; its supply cannot be increased or decreased.
• Permanent / indestructible — land has original and indestructible powers; it cannot be destroyed.
• Immobile — land cannot be physically shifted from one place to another (geographically immobile).
• Heterogeneous — no two pieces of land are exactly alike; they differ in fertility, situation and quality. …