By Felix Hammond, Yaw Adarkwah Antwi

This ebook explores why present genuine property preparations in Africa haven't labored good and the way they are often equipped to supply effective results.

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Factors of production on the other hand are those goods that must be used to produce consumers’ goods; they are thus not directly consumable. Consumers’ goods may be further classified into original consumable goods and artificial consumable goods. Original consumable goods are those bestowed on us by providence, needing no further human efforts. Examples include wildly growing fruits, vegetables, game and fish. Artificial consumable goods are those that are artificially produced or manufactured from existing things, mainly, from original factors of production.

Equal distribution of incomes is something that is more likely to be encountered in books and theoretical discussions than in reality. There is no society in which income is equally distributed; income inequality is a constant feature of every society. Thus, in some societies income could be so unequally distributed to the effect that only a few may be earning a larger chunk of the total income generated, leaving the vast majority impoverished. Thus, a nation could be doing well in terms of its economic development and still be overwhelmed with incredible poverty.

The highest and best use for a given unit of real estate is the use upon which the most urgent wants of people in the society depends. This use is also the use that is associated with the highest return. Where a real estate unit is not put to its highest and best uses society gets less than what it could get from it. The need to put land to its highest and best uses actually presents two crucial challenges to policymaking. First is the proper identification of the highest and best uses of any given unit of real estate at any given time, without which society may be unable to gain as much as it could from its real estate resources.

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