I think land is a passive factor of production because you would have to develop that land in order for you to produce. So it does not actively participate in your business unless you make something of it. An exampl is when you but a lot. If you do not develop it into a house, commercial space or a rental space then it will sit passively or idle and your investement will just be frozen and not be productive.
land is a different type of factor of production than others. it possesses the following characteristics:-
1) free gift of nature- land is a gift of nature given to man free of cost
2) land is limited in supply- other factors of production can be increased in supply to a greater or lesser extent. but it is impossible to increase the supply of land
3) land is a primary factor of production- in every kind of production, we have to make use of land
4) land is a passive factor of production- land is a passive factor of production because it cannot produce anything by itself
5) land is permanent- land is indestructible
6)land is immovable
7) land varies in fertility
8) land differs in location
9) land has many uses
scarcity
which of the following is a characteristic of the factors of production
Scarcity
Scarcity
Scarcity
Factors of production
Factors of production are the inputs for the production process. Three basic factors of production are land, labor, capital and entrepreneurship.
The characteristics of entrepreneurship as factor of production include capital, which is the money needed to start the business. Any part of the business that has to do with the money is a characteristic of entrepreneurship.
mobility of factors of production
what factors of production is needed for photography
how to improve factors of production
production of light
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.