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Q.

Choose if the given statement is True/False.

The value of land as a production element cannot be overstated.

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a

True

b

False

answer is A.

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Detailed Solution

The above statement is true.
The value of land as a production element cannot be overstated. Everything we use ultimately comes from the soil, as has previously been mentioned. The source of all tangible riches can be said to be land. The abundance of a nation's natural resources is intimately related to its economic prosperity. It is difficult to damage land since it is permanent. Land cannot be destroyed, but all other components may be damaged. Physically moving land from one location to another is impossible. Geographic mobility is lacking.

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