Explain four reasons as to why land is considered to be an important factor of production.
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Explain four reasons as to why land is considered to be an important factor of production.
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Land is considered the primary factor of production. Land is rich in coal, water and petroleum, which are used for generating power. Land is required to construct factories and industries to carry out the production process. Land is of great importance to mankind.
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Answer:
Land is considered the primary factor of production. Land is rich in coal, water and petroleum, which are used for generating power. Land is required to construct factories and industries to carry out the production process. Land is of great importance to mankind.
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