What are the economic characteristics of land?

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.

Land possesses the following characteristics:

• Free Gift of Nature:
• Fixed Quantity:
• Land is Permanent:
• Land is a Primary Factor of Production:
• Land is a Passive Factor of Production:
• Land is Immovable:
• Land has some Original Indestructible Powers:
• Land Differs in Fertility:

• 1 – Scarcity. Scarce means there isn’t much of something around.
• 2 – Improvements.
• 3 – Permanence of investment.
• 4 – Area preference.

The four characteristics of land are: Land is limited in supply: Supply of land is fixed as it is given by nature. Gifts of nature: Land is a gift of nature which does not have any cost of production. Land is readily available for any use.

Features of Land:

• Free Gift of Nature: Man has to make efforts in order to acquire other factors of production.
• Fixed Quantity: The total quantity of land does not undergo any change.
• Land is Permanent:
• Land is a Primary Factor of Production:
• Land is a Passive Factor of Production:
• Land is Immovable:

A land characteristic is an attribute of land that can be measured or estimated. Examples are slope angle, rainfall, soil texture, available water capacity, biomass of the vegetation, etc. Land mapping units, as determined by resource surveys, are normally described in terms of land characteristics.

Land, In economics, the resource that encompasses the natural resources used in production. Land was considered to be the “original and inexhaustible gift of nature.” In modern economics, it is broadly defined to include all that nature provides, including minerals, forest products, and water and land resources.

Land resource is important because humans not only live but also perform all economic activities on land. Besides, land also supports wild life, natural vegetation, transport and communication activities. Ninety five percent of our basic needs and requirements like food, clothing and shelter are obtained from land.

Land use and land management practices have a major impact on natural resources including water, soil, nutrients, plants and animals. Land use information can be used to develop solutions for natural resource management issues such as salinity and water quality.

The UN’s SubGoals for life on land

1. Conserve and restore terrestrial and freshwater ecosystems.
2. End deforestation and restore degraded forests.
3. Ensure conservation of mountain ecosystems.
4. Protect biodiversity and natural habitats.
5. Eliminate poaching and trafficking of protected species.