Question
Land and Labour.

Answer

LandLabour
(i) Land is any natural resource, available above and below the surface of the earth.(i) Labour is any physical or mental effort undergone during the production process to earn some remuneration.
(ii) Land is a natural factor of production.(ii) Labour is a human factor of production.
(iii) Land earns ‘Rent’ as a factor reward.(iii) Labour earns ‘Wages’ as a factor reward.
(iv) Land is a durable factor.(iv) Labour is a perishable factor.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free