Examlex
Approximate the solution to Round to 3 decimal places.
Urban Land
Urban land is designated areas in cities and towns used for residential, commercial, industrial, or recreational purposes.
Economic Rent
Represents the payment to an owner or factor of production in excess of the costs needed to bring that factor into production. In simpler terms, it's the extra income earned because of an owner's unique position or resource.
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.
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