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WAEC Economics 1993 Question 21

Question 21

Theory of Production

Land is often distinguished as a factor of production because it

  1. A.is a free gift of nature
  2. B.constitutes one-third of the entire world
  3. C.is unlimited in supply
  4. D.is owned by individuals
  5. E.is owned by government.
Show the answer and explanation

Answer: A (is a free gift of nature)

Explanation

Land is a free gift of nature, not made by man.