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WAEC Commerce 2025 Question 6

Question 6

Production

A feature of land is that

  1. A.it is homogeneous.
  2. B.its value falls over time.
  3. C.its supply is fixed.
  4. D.it attracts dividend.
Show the answer and explanation

Answer: C (its supply is fixed.)

Explanation

Land is a gift of nature and its total supply cannot be increased.