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Economics - Financial Markets 18 Online
OpenStudy (anonymous):

What does an economist mean by the word land ?

OpenStudy (anonymous):

@Chubster2019 don't overthink it, economists just use land to mean the ground that we use for productive uses. Typically it is considered when thinking about goods like apples and corn that rely on cultivating a plot of land to produce!

OpenStudy (anonymous):

all natural resources used to produce goods and services.

OpenStudy (anonymous):

Everything physical (other than human beings) which is not the result of human effort is within the economic definition of land. This concept thus includes not merely the dry surface of the earth, but all natural materials, forces and opportunities. The trees in a virgin forest are land; in a cultivated forest they are wealth.

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