Distinguish between the following: Land and capital – InterviewSolution

1.

Distinguish between the following: Land and capital

Answer»

Land	Capital
Land broadly refers to all the natural resources, flora and fauna, earth, buildings, avenues, air, water, minerals etc.	Capital includes money invested in the business, machinery and tools.
It has inelastic supply.	It has elastic supply.
The factor payment received on land is rent.	The factor payment received on capital is interest.

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