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Q.

[[1]] is a natural resource that is found on the surface of the earth


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Detailed Solution

Land is a natural resource that is found on the surface of the earth.
Capital is wealth that is used for further production of wealth. Land is a natural factor of production and permanent, whereas capital is a man-made factor of production and not permanent. The land is perfectly inelastic, whereas capital is relatively elastic. The land is immobile, whereas capital is a mobile factor. The value of land appreciates whereas the value of capital depreciates.
 
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[[1]] is a natural resource that is found on the surface of the earth