What does the term ‘land’ refer to?

The correct answer is b) all natural resources.

Land encompasses all natural resources found on the Earth’s surface, including soil, minerals, water, and forests. It is a vital component of the production process in economics, as it provides the essential input for agriculture, forestry, mining, and many other industries. While farmland is a part of this definition, land is not limited to agricultural use alone. It includes all the natural resources provided by the earth, making it crucial for various types of production and economic activities.

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