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JAMB Commerce 2014 Paper
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© africaexams.com
Question : 4
Total: 49
An important feature of land is that it
has an elastic supply
is an active factor of production
is heterogenous in nature
is subject to returns to scale
Validate
Solution:
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
© africaexams.com
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