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In economics, land comprises all naturally occurring resources as well as geographic land. Examples include particular geographical locations , mineral deposits , forests, fish stocks, atmospheric quality, geostationary orbits , and portions of the electromagnetic spectrum .
In the United States, a plat (/ p l æ t / [1] or / p l ɑː t /) [2] (plan) is a cadastral map, drawn to scale, showing the divisions of a piece of land. United States General Land Office surveyors drafted township plats of Public Lands Surveys to show the distance and bearing between section corners, sometimes including topographic or ...
In 1995, a random survey of 178 members of the Economic History Association found that 70 percent of economists and 84 percent of economic historians disagreed with the statement "Nineteenth-century U.S. land policy, which attempted to give away free land, probably represented a net drain on the productive capacity of the country."
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Marginal land is land that is of little agricultural or developmental value because crops produced from the area would be worth less than any rent paid for access to the area. [1] Although the term marginal is often used in a subjective sense for less-than-ideal lands, it is fundamentally an economic term [ 2 ] that is defined by the local ...
The law of rent applies equally well to urban land and rural land, as it is a fundamental principle of economics. Ricardo noticed that the bargaining power of laborers can never dip below the produce obtainable on the best available rent-free land, because whenever rent leaves them with less than they could get on that free land, they can ...
Unearned increment is an increase in the value of land or any property without expenditure of any kind on the part of the proprietor; it is an early statement of the notion of unearned income. It was coined by John Stuart Mill , who proposed taxing it so that it benefits every member of a society.
Landfills are common LULUs.. In land-use planning, a locally unwanted land use (LULU) is a land use that creates externality costs on those living in close proximity. These costs include potential health hazards, poor aesthetics, or reduction in home values.