what is land 
land in the business sense can refer to real estate or property without buildings and equipment that is designated by fixed spatial boundaries land ownership might offer the titleholder the right to any natural resources that exist within the boundaries of their land in traditional economics land is a factor of production along with capital and labor the sale of land results in a capital gain or loss under internal revenue service irs tax laws land is not a depreciable asset and qualifies as a fixed asset instead of a current asset understanding landthe basic concept of land is that it is a specific area of earth property with clearly delineated boundaries that has an owner you can view the concept of land in different ways depending on its context and the circumstances under which it s being analyzed 