and which word best describes your view of LAND?
2007-07-14 02:35:04 · 3 answers · asked by patzky99 6 in Business & Finance ➔ Investing
Generally speaking, land is a resource. It is a naturally occuring thing that has potential for use. If I grow corn on that land, the corn is a commodity. It is somethingcreated or grown out of the resource. Oil, for instance, is a resource, while gasoline is a commodity. The resource is is used to make a commodity.
2007-07-14 02:46:28 · answer #1 · answered by fangtaiyang 7 · 2⤊ 0⤋
Land is a resource which can be increased,though, ultimately is finite. Consider Holland in Europe where they have been reclaiming land from the North Sea for centuries and, more recently, Dubai in the Persian Gulf where they have huge real estate projects on man made islands off shore.
A resource is normally considered finite but commodities can be finite [ gasoline] and infinite [wheat ]. We can carry on growing wheat [renewable ] but gasoline will run out one day [finite].
2007-07-19 12:44:28 · answer #2 · answered by katerschenko 3 · 0⤊ 0⤋
Whoever said land is a naturally occuring this is a jagoff. We only have as much land as there ever was and is. That is why real estate and land is a hedge for the economy and used for interest rates. Gas is natural resource.
2007-07-14 15:48:37 · answer #3 · answered by JeffreyK 2 · 1⤊ 0⤋