In the Netherlands in 2018, there were $$\(1.3\)$$ bicycles per person and the world's largest underground bicycle parking area was built in the capital city. Land is scarce in city centres, where most cycling takes place. Demand for bikes in the Netherlands is price-inelastic. Only a few people in the Netherlands borrow money to buy bikes. The government encourages cycling by spending on both bike parking areas and leisure cycle parks. Identify one difference between land and labour.
Exam No：0455_m21_qp_22 Year：2021 Question No：3(a)
Answer:
Land is a natural resource (1) labour is a human resource /
people (1).
Reward for land is rent (1) reward for labour is wages (1).
Land is likely to be more geographically immobile than labour
(2).
Land may be more occupationally mobile than labour (2).
Land may be in more fixed supply / scarcer than labour (2).
people (1).
Reward for land is rent (1) reward for labour is wages (1).
Land is likely to be more geographically immobile than labour
(2).
Land may be more occupationally mobile than labour (2).
Land may be in more fixed supply / scarcer than labour (2).
Knowledge points:
1.2.1 definitions of the factors of production and their rewards
Solution:
Download APP for more features
1. Tons of answers.
2. Smarter Al tools enhance your learning journey.
IOS
Download
Download
Android
Download
Download
Google Play
Download
Download