This purchase best represent land, as the factors of production
Land as a factor of production has a broad meaning and can take difference forms, from agricultural land to real estate to the available resources from a certain pieces of land.
<h2>Further Explanation</h2>
Land represents all natural resources available to create supply. Land includes raw property and anything that emanates from the ground. It can be a non-renewable or renewable resource. Non-renewable resources include commodities such as gold and oil and renewable resources such as timer.
All this becomes capital goods when it is changed from its original condition. For example, farm land is considered to be natural resources, but a mall or shopping center built on it is a capital good. Also the cultivation of crops on land improves its utility and value. In short, the primary purpose of land is to generate economic value.
Although, land as factor of production, is very essential part of many ventures. Its value can increase or diminish depending on the industry. For example, the most important investment in real estate business is land but land might not be an important investment in a technology company
The three other factors of production are labor, entrepreneurship and capital. These factors are needed mainly for supply. They are responsible for the production of goods and services in any economy.
LEARN MORE:
KEYWORDS:
- land
- capital labor
- value
- agricultural land
- goods and services
Answer:
answer from google
Explanation:
Because this is the phase in which the moon passes between the earth and the sun and therefore cannot be seen. ... the moon is always rotating on its axis; the time it takes to rotate once is exactly the same length of time it takes for the moon to orbit the earth. We always see the same side of the moon, the near side.
Answer:
Sample
Explanation:
Samples are used in statistical testing when population sizes are too large for the test to include all possible members or observations. A sample should represent the population as a whole and not reflect any bias toward a specific attribute.
Surprisingly, there are 196 countries today! hope this helped
