Asked by Jordan Novak on Jun 03, 2024
Verified
Which statement is true?
A) The most important factor affecting rent is location.
B) The rent on a particular piece of land is based on the buildings located on that land.
C) Rent on marginal land is very high.
D) The rent on a particular piece of land never changes.
Marginal Land
Land that yields minimal agricultural output due to poor soil quality, steep slopes, or other environmental factors.
Location
Refers to the geographical situation of a place based on physical and human factors, influencing its connectivity and economic activities.
- Comprehend the mechanics behind rent, utilization of land, and their impacts on the economy.
Verified Answer
KE
Kelly ElaineJun 07, 2024
Final Answer :
A
Explanation :
Location is the most significant factor affecting rent. The value of the land is determined by its location, and the availability of essential amenities in the area influences the amount of rent that the landowner can charge. Other factors such as building quality, infrastructure, and zoning restrictions may also contribute to the rent, but location remains the dominant influence.
Learning Objectives
- Comprehend the mechanics behind rent, utilization of land, and their impacts on the economy.