Consider the following pairs of factors of production and their respective revenue sources
1. Enterpreneur - Profit
2. Land - Wages
3. Capital - Rent
4. Labour - Wages

Which of the above pairs are correctly matched?

1 only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

1 and 4

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

1,3 and 4

No worries! We‘ve got your back. Try BYJU‘S free classes today!

1,2 and 3

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B 1 and 4
Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit.These include any resource needed for the creation of a good or service.The factors of production include land, labor, capital and entrepreneurship.

Labour gets wages and salaries, capital gets interest, land gets rent and entrepreneurship gets profit as their remuneration.

Suggest Corrections

Similar questions

	Component	Associated Rights
1.	Prohibition of forced labour	Right against exploitation.
2.	Right to elementary education	Cultural and educational rights.
3.	Protection of language and script of minorities	Right to freedom of religion.

Join BYJU'S Learning Program