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Factors of production and their rewards,features of land as a factor of production

Answer Text:
Factors of production and their rewards.
-Factors of production are economic resources used in production of goods and services.They include:
-Land
-Labour
-Capital
-Entrepreneurship.
Land.
-Refers to all natural resources above, on, or below the surface of the earth
-It is anything provided free of charge by nature.
-Its reward is: rent/rates/royalties.
Features of land.
-It is a basic factor of production, production cannot take place without it.
-Supply of land is fixed.
-Land lacks geographical mobility but it is occupationally mobile
-Quality of land can be improved by application of technology.
-Land differs in quality from one geographical region to another.
-Reward for land is rent, rates or royalties.