which of the following is true about supply of land?
ECONOMICS
WAEC 2018
which of the following is true about supply of land?
- A. its higher in the urban than rural areas
- B. varies with time
- C. rises with demand
- D. is fixed
Correct Answer: D. is fixed
Explanation
Fixed supply: The total land area of earth (in the sense of the surface area available to men) is fixed. First, supply of land is fixed or inelastic from society's point of view.
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