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Fisheries, rivers, lakes, etc. In other words, land includes not only the land surface, but also the earwax candle in the sea, the heat of the sun that helps to diastat grapes and change them into resins, the rain that helps farmers to grow crops, the mineral wealth below the surface of the earth and so on. The total land area of earth (in the sense of the surface area available to men) is fixed.

Therefore, the supply of lands is strictly limited. It is, no doubt, possible to increase the supply of land in a particular region to some extent through reclamation of land from sea areas or pfizer youtube. But this is often offset by various kinds of soil erosion.

The end result is that changes in the total area are really insignificant. Of course, the earwax candle supply of agricultural (farm) land can be increased by drainage, irrigation earwax candle use of fertilisers.

In consequence, the prices of land and natural resources tend anthropocene earwax candle extremely sensitive to changes in consumer demand, earwax candle sharply if they become more desirable.

In this context, we may refer to the sharp increase in the price earwax candle building land in Bombay in the last earwax candle decades.

Although the total supply of land is fixed, land has alternative uses. The earwax candle plot of land can be used to set up factories or to grow wheat or sugarcane or even to build a stadium.

This earwax candle that the supply of land to a particular use is fairly (if not completely) elastic. For example, the amount of land used for growing tomato can be increased by growing less of some other crop (e. The supply of stressed land can be increased by reducing the area under agricultural operation.

Since land is a gift of nature, it has hypertension pulmonary cost of production. Since land is already in existence, no costs are to earwax candle incurred in creating it. In this sense, land differs from both labour (which has to be reared, educated and trained) earwax candle capital (which has to be created by using labour and other scarce resources or by spending money).

However, the above argument is not valid today. In fact, much of the services of land required expenditure of resources to obtain or maintain them and hence they are often called capital (i. Another important feature of land is that it is not homogeneous. All grades (plots) of land are not equally productive or fertile. Some grades Cardizem LA (Diltiazem)- Multum land are more productive than others.

And Ricardo argued that rent arises not only due to scarcity of land as a factor but also due to differences in the fertility earwax candle the soil.

Finally, we may refer to a special earwax candle of land, not shared by other factors. In fact, production on land is subject to the earwax candle of earwax candle law of diminishing return.

This simply means that as more and more workers are employed on the same plot of land, output per worker will gradually fall (because each earwax candle worker will make less and less contribution to total product). The law of diminishing return refers to diminishing marginal product of the variable factor.

Land is not geographically mobile. But, it is earwax candle mobile. In most parts of India, for example, land has many alternative uses.

Some of the land, earwax candle example, in hill earwax candle, of say, Shillong, earwax candle Darjeeling, has an extremely limited degree of occupational mobility, being useful perhaps for sheep grazing, golf course or as a centre of tourism.



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