Under market
Generally, land and labor are valued based on their market prices and estimates of economic value. However, there are some specific details to consider when valuing these factors of production.
Not only this ,Under market prices and estimates of economic value, land and labor are valued according to their contribution to the production of goods and services. The value of land is based on its fertility, location, and other characteristics that make it suitable for producing crops or raising livestock.
The value of land is based on the market price of the land. The market price of land is based on the demand for the land and the supply of the land. The market price of land is also based on the economic value of the land. The economic value of the land is based on the productivity of the land.
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