1.

Write any 3 differences between land and capital.​

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Answer:

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LAND

  • Nature of Factor:- Land is the natural factor of PRODUCTION, it is permanent in nature.
  • Elasticity:- The elasticity of land is PERFECTLY inelastic.
  • Mobility :- Land is perfectly immobile.

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CAPITAL

  • Nature of Factor:- Capital is a MAN made factor of production. It LACKS permanency.
  • Elasticity:- The elasticity of capital is relatively elastic.
  • Mobility :- Capital is mobile factor.


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