Students should be able to:
- Define land as an FOP
- Give examples of land
- State how they contribute to the production of wealth
- Explain the economic characteristics of land
- Explain why land is a unique factor of production
- Explain why the demand for land is a derived demand
- Illustrate and explain the concept of economic rent
- Explain the factors that influence the price paid for land
- Describe the factors that determine the location of a factory
- Explain the factors leading to the price of property increasing/decreasing in Ireland