Following are the characteristics of land:

1. Land is Free Gift of Nature: Land is free gift of nature because man has not made or created the land.
2. Land is Immoveable : It cannot be shifted from one place to other like labour and capital.
3. Land is an Inactive Factor of Production : If it is not deployed effectively through human talent and effort, it will not produce any results.
4. Land Differs in Fertility : Two pieces of land do not have the same fertility. Mineral resources, river system, forest resources, mountain formation, fertility of soil, etc. differ from region to region.
5. Specific Factor of Production : Land is a specific factor of production because without land we cannot produce anything.
6. Imperishable : According to Ricardo, “Land is an indestructible factor of production because it cannot be destroyed.
7. Inelastic Supply of Land : In the sense of space and natural resources, land is available in the same amount whatever be the price offered. It is a free gift of nature.