Share This Article:

Economic Definition of land. Defined.

Offline Version: PDF

Term land Definition: One of four basic categories of resources, or factors of production (the other three are labor, capital, and entrepreneurship). This category includes the natural resources used to produce goods and services, including the land itself; the minerals and nutrients in the ground; the water, wildlife, and vegetation on the surface; and the air above.

 

« laissez faire | law »

Permalink: https://glossary.econguru.com/economic-term/land

Alphabetical Reference to Over 2,000 Economic Terms