Land is a "Resource," just like water, lumber, grain, and ore are generally considered resources. As we recall from Econ 101, Economics is the study of the all

Land is a "Resource," just like water, lumber, grain, and ore are generally considered resources. As we recall from Econ 101, Economics is the study of the allocation of scarce resources. Land becomes "Property" when we introduce the fundamental tool and building block of society: law. Property law grants the land owner certain rights and restrictions that are set, guaranteed, and enforced by society. Property can be considered a "Monopoly" only in the context of some sort of market, which implies supply, demand, and flow of goods. Say we own an acre of land in the middle of Los Angeles, and it is the only plot in the city with an oil derrick. If we define our market to be rentable land within the city of LA, we most definitely do not have a monopoly on the market. If we define the market to be rentable land in the "center" of LA, our power within the market has gone up, but we still do not have a monopoly on the market. If we define the market to be an acre of rentable land in the center of LA with an oil derrick, then we do have a complete monopoly on that specific market. So if you own land, you can monopolize a certain subset of a market, depending on how you define its parameters.