Land as a Factor of Production . Meaning of Production: . Play this game to review Business. Since the primary purpose of economic activity is to produce utility for individuals, we count as production during a time period all activity which either creates utility during the period or which increases ability of the society to create utility in the future. Let us make an in-depth study of the meaning, definition, types and factors of production. 1. That includes commodities such as oil and gold. A. Land Land includes natural resources that are found on Earth. Which of the below is not a factor of production?a. It refers to all natural resources. Land is a passive factor of production and so it is essential to combine it with other active factors, in correct proportion, to achieve the optimum productivity. It can also be a renewable resource, such as timber. It can be a non-renewable resource. Land:. In literary sense, land is regarded as soil. However, in economics, land, a factor of production, has a much wider scope. The basic constraint in raising farm productions land which is a fixed factor of production. It is customary to attribute the process of production to three factors, land, labour and capital, to which we add organisation. For Coca-Cola, the labour would include the factory workers, managers and people of lower positions in the offices. Land is short for all the natural resources available to create supply. All natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land. Which is the most abundant factor of production in India? 14. What is Green Revolution? Every production is organised combining land labour physical capital and human capital which are known as factors of production chaitanyakrishn1 chaitanyakrishn1 The factors are as follows 1. Man's first Economic Revolution involved the decision to: A. become a farmer B. seize his neighbor's land C. manufacture automobiles D. travels into outer space. Land b. Labour c. Entrepreneurs d. Capital Get the answers you need, now! 1. Question 31. A factor of production is indispensable for production because without it no production is possible. Land B. A factory building is an example of which factor of production? Factors of production have been categorized into four types. C. Physical Capital. Capital (investment) ... Get the Brainly App Labor C. Physical Capital D. Human Capital. This could be a renewable resource or a non-renewable resource. Land. One uses the land to produces goods. * 1 point Land Labour Capital Tools and machines It includes raw property and anything that comes from the ground. A garbage truck driver is an example of which Factor of Production? 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