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WAEC Commerce 1995 Question 13

Question 13

Production

Land as a factor of production comprises

  1. A.all resources provided by nature
  2. B.the earth surface only
  3. C.land surface and vegetation
  4. D.efforts to exploit the earth
  5. E.the oceans and rivers only
Show the answer and explanation

Answer: A (all resources provided by nature)

Explanation

In commerce and economics, land means all natural resources: soil, minerals, water, forests and so on.