Land in economics comprises all naturally occurring resources whose supply is inherently fixed (i.e., does not respond to changes in price), such as at geographical locations (excluding infrastructural improvements and "natural capital", which can be changed by human actions), mineral deposits, and even geostationary orbit locations and portions of the electromagnetic spectrum. In classical economics it is considered one of three factors of production (along with capital and labor). Income derived from ownership or control of natural resources is often referred to as rent.

Land was sometimes defined in classical and neoclassical economics as the "original and indestructible powers of the soil."http://links.jstor.org/sici?sici=0022-1821%28195806%296%3A3%3C198%3AEAOULU%3E2.0.CO%3B2-8&size=LARGE Georgists hold that this implies a perfectly inelastic supply curve (i.e., zero elasticity), suggesting that a land value tax that recovers the rent of land for public purposes would not affect the opportunity cost of using land, but would instead only decrease the value of owning it. This view is supported by evidence that although land can come on and off the market, market inventories of land show if anything an inverse relationship to price (i.e., negative elasticity).

Land, particularly geographic locations and mineral desposits, has historically been the cause of much conflict and dispute; land reform programmes, which are designed to redistribute possession and/or use of geographic land, are often the cause of much controversy, and conflicts over the economic rent of mineral deposits have contributed to many civil wars, particularly in Africa.

References

• Anthony C. Fisher (1987). "natural resources," The New Palgrave: A Dictionary of Economics, v. 3, pp. 612-14.

land is a gift to man by nature , man cannot create land. It is presented by nature.But the factors can be created by men.so their is no cost of production for land.This means for producing commodities on land above money should be spent but by spending money , land itself cannot be produced .

Land is not destroyable like the other factors for example we can destroy men but not land .Land has original and indestructible powers.Land can not be shifted from one place to another, this makes land to get different rent at different places. it gets more rent in cities and less in villages , because the land in villages can not come to cities to get higher rent .

Land's fertility differs in different pieces of land . when different types of land are cultivated , the superior land yields more commodities than the inferior lands.

Land cannot produce itself. man has to apply labour and capital to land for producing commodities . without the supervision of mans can not produce.

since the quantity if land is finite, more and more commodities can be produced only by applying more labour and capital in the avail able land .The increase in the yield will less and less as more labour and capital are applied successively.

de:Boden (Produktionsfaktor) es:Tierra (economía) nl:Land (economie) pl:Ziemia (ekonomia) sk:Pôda a prírodné zdroje sv:Jord (egendom) vi:??t (kinh t? h?c)

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