What's it: In economics, land doesn't just refer to land for agriculture, factories, retail space, or office space. As a factor of production, it also includes various resources contained in it, such as metallic minerals, petroleum, and natural gas.
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What's it: In economics, land doesn't just refer to land for agriculture, factories, retail space, or office space. As a factor of production, it also includes various resources contained in it, such as metallic minerals, petroleum, and natural gas.