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Land LC
| Term | Definition |
|---|---|
| Economic characteristics of land | Fixed in supply; No cost of production; Non-specific; Lack of mobility |
| Factors influencing the price of land | Demand for housing;Road building;Demand for offices and industry sites;Demand for public amenities;Demand for agriculture;Government intervention |
| Negative equity | When the market value of a property is less than the outstanding balance owed on the mortgage to secure that property. |
| Factors of location | Labour and wage rates;Cost of land;Availability of infrastructure;Nature of product manufactured; Government influence |