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32. NATURAL FACTORS
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MAN-MADE
FACTORS
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1.
Meaning
It refers to those factors, which are
gifted by nature.
2.
Examples
Natural factors include land, minerals, oil
resources, etc.
3.
Permanency
The natural factors are permanent in
nature. For instance, land is permanent in nature.
4.
Appreciation/Depreciation
The natural factors appreciate in value
over a period of time. For instance, the value of land increases due to
scarcity.
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It refers to those factors, which are created by man.
Man-made factors include capital, skilled labour, machinery, etc.
Man-made factors lack permanency for instance, machinery lacks
permanency.
Man-made factors may depreciate over a period of time. For instance,
machinery depreciates in value due to wear and tear.
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NATURAL FACTORS MAN-MADE FACTORS
