Asked by caleb
In the study of economics, what term refers not only to physical terrain but also to the natural resources we use like lumber, minerals, oil, and so on?
capital
labor
entrepreneurial ability
land
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land
In economics, "land" is the factor of production that includes not only physical terrain but all natural resources (minerals, timber, oil, etc.).
In economics, "land" is the factor of production that includes not only physical terrain but all natural resources (minerals, timber, oil, etc.).
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