ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The major economic factors affecting the land use are the distance from nearby markets, soil quality, availability of cheap labour etc. Distance from markets affects land use because many perishable crops need to reach the markets in fresh condition.

Detailed explanation-2: -Economists define four factors of production: land, labor, capital and entrepreneurship. These can be considered the building blocks of an economy. How these factors are combined determines the success or failure of the outcome.

Detailed explanation-3: -In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations, mineral deposits, forests, fish stocks, atmospheric quality, geostationary orbits, and portions of the electromagnetic spectrum. Supply of these resources is fixed.

Detailed explanation-4: -Traditional economic system. Command economic system. Market economic system. Mixed system. 7 days ago