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Land (economics) facts for kids

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For similar terms, see Land.

In economics, land means all natural resources that cannot be produced in a larger quantity if prices go up, such as geographical locations and mineral deposits.

In classical economics it is considered one of three factors of production, the other two being capital and labor; income that one gets because of ownership or control of natural resources is often referred to as rent.

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Land (economics) Facts for Kids. Kiddle Encyclopedia.