Land as a Factor of Production . Which is the most abundant factor of production in India? Since the primary purpose of economic activity is to produce utility for individuals, we count as production during a time period all activity which either creates utility during the period or which increases ability of the society to create utility in the future. However, in economics, land, a factor of production, has a much wider scope. HOTS Answer: The great increase in the production of food grains in our country during the last 40 years, due to use of high yielding variety (HYV) of seeds, and other inputs is known as the Green Revolution. * 1 point Land Labour Capital Tools and machines Every production is organised combining land labour physical capital and human capital which are known as factors of production chaitanyakrishn1 chaitanyakrishn1 The factors are as follows 1. The basic constraint in raising farm productions land which is a fixed factor of production. Question 31. That includes commodities such as oil and gold. It includes raw property and anything that comes from the ground. Types of Factors of Production. A factor of production is indispensable for production because without it no production is possible. This could be a renewable resource or a non-renewable resource. Meaning of Production: . It can be a non-renewable resource. It is customary to attribute the process of production to three factors, land, labour and capital, to which we add organisation. 1. A. Let us make an in-depth study of the meaning, definition, types and factors of production. Land:. Man's first Economic Revolution involved the decision to: A. become a farmer B. seize his neighbor's land C. manufacture automobiles D. travels into outer space. In literary sense, land is regarded as soil. 1. A factory building is an example of which factor of production? Land is short for all the natural resources available to create supply. Land is a passive factor of production and so it is essential to combine it with other active factors, in correct proportion, to achieve the optimum productivity. Land B. Land b. Labour c. Entrepreneurs d. Capital Get the answers you need, now! Labor C. Physical Capital D. Human Capital. Marshall has defined land as, “the materials and the forces which nature gives freely for man’s aid, in land and water, in air and light and heat.” It can also be a renewable resource, such as timber. Land Land includes natural resources that are found on Earth. Factors of production have been categorized into four types. C. Physical Capital. Play this game to review Business. A garbage truck driver is an example of which Factor of Production? All natural resources either on the surface of the earth or below the surface of the earth or above the surface of the earth is Land. What is Green Revolution? One uses the land to produces goods. 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