LAND
Definition: Land refers to where productive activities such as growing of crops, rearing of animals and establishment of farmstead, etc, are carried out.
Features of Land
(i) Land is one of the factors of production.
(ii) Land is the gift of nature or a natural resource.
(iii) It is immobile and a fixed factor.
(iv) It is subject to the law of diminishing returns.
(v) Land also includes soil, mineral, water and vegetation.
(vi) The reward for land is rent collected from tenants.
(vii) Availability is subject to the Land Use Act in Nigeria.
(viii) It can be used as a collateral for loans.
(ix) It is limited in supply especially in highly populated areas.
(x) Its suitability influences output.
(xi) Its quality can be improved by various methods.
(xii) Its value is determined by its location.
(xiii) Land can appreciate or depreciated.
Importance of Land in an Agricultural Enterprise
(i) Land is used for the cultivation of food crops such as maize, rice, cowpea, etc.
(ii) It is also used for the cultivation of cash crops, e.g., cocoa, rubber, oil palm, etc.
(iii) It is used for the rearing of animals.
(iv) It is used for forest development.
(v) It is used for fish pond development.
(vi) It is used for wildlife conservation
(vii) Land is used as collateral for securing loans from banks.
Questions:
1What is land,?
2.State five features of land
3.The reward of land is?
See also