Podcast
Questions and Answers
In economics, land refers to man-made resources.
In economics, land refers to man-made resources.
False
Examples of 'land' include deserts, fertile fields, and forests.
Examples of 'land' include deserts, fertile fields, and forests.
True
Livestock is not an example of 'land' in economics.
Livestock is not an example of 'land' in economics.
False
The climate necessary to grow crops is not considered 'land' in economics.
The climate necessary to grow crops is not considered 'land' in economics.
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In economics, 'land' refers to natural resources created by people.
In economics, 'land' refers to natural resources created by people.
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What is the fundamental problem that economics tries to address?
What is the fundamental problem that economics tries to address?
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What is the primary objective of economics?
What is the primary objective of economics?
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What is a characteristic of human wants according to economics?
What is a characteristic of human wants according to economics?
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What is a key concept in understanding economics?
What is a key concept in understanding economics?
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What is the relationship between resources and wants in economics?
What is the relationship between resources and wants in economics?
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Study Notes
In economics, land refers to the “gifts of nature,” or natural resources not created by people. “Land” includes deserts, fertile fields, forests, mineral deposits, livestock, sunshine, and the climate necessary to grow crops.
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Description
Learn about the concept of land in economics, including its definition and examples of natural resources. Understand what constitutes land and how it differs from other factors of production.
