Land

By convention, economists include in the category "land" both

• the "original and indestructible powers of the soil" and
• natural resources, such as coal, oil, and metallic ores.

There are, of course, some important differences. Coal and oil, once they are dug out or the ground and burned, are gone for ever. In other words, they are "wasting resources." On the other hand, the fertility of the soil does not have to be a wasting resource, if the farmer uses farming methods which maintain fertility. But this difference is not absolute. Copper ores, for example, may be used and then recycled.

Labor

Copyright