The factor of production that is fixed in nature is
Answer Details
The factor of production that is fixed in nature is land.
In economics, the factors of production are the resources that are used to produce goods and services. These factors include land, labor, entrepreneurship, and capital. Land refers to all natural resources, such as forests, water, and minerals, that are used in production.
Unlike labor, entrepreneurship, and capital, land is considered a fixed factor of production. This means that the amount of land available for use in production is limited and cannot be easily increased or decreased in the short run. For example, the amount of land available for farming is fixed, and cannot be increased unless more land is reclaimed or purchased.
This fixed nature of land as a factor of production means that the productivity of land is also limited. The amount of output that can be produced from a given amount of land is determined by factors such as the quality of the land, the technology used in production, and the skills of the labor force. As a result, land is an important factor in determining the overall productivity of an economy.