What term describes property used for economic pursuit and production?

The term that best describes property used for economic pursuit and production is agricultural property. This type of property specifically refers to land and facilities that are utilized for farming, cultivation, and other agricultural-related activities aimed at producing food, crops, and livestock. It encompasses a range of uses, from crop production to raising animals, and is directly tied to the economic activities of farming and agriculture.

Agricultural property plays a pivotal role in the economy by contributing to food supply and supporting rural livelihoods. It is often characterized by the resources needed for farming operations, such as irrigation systems, barns, and other infrastructure necessary for agricultural production.

In contrast, the other types of property listed, while also important in the economic landscape, do not specifically focus on agricultural production. Industrial property pertains to land and buildings used for manufacturing and warehousing, residential property is meant for living purposes, and investment property is generally purchased for the purpose of generating rental income or appreciation in value, but does not specifically entail productive agricultural activities.