MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Circular Flow Diagram

Factors of pr...

Question

Factors of production are paid according to their contribution to the output sold.

A

True

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

B

False

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

Open in App

Solution

The correct option is B False
Factor of production contributes to the production of output and not to the marketing or selling of output. Therefore they are paid according to the number of units of output produced and not according to how many output sold.

Suggest Corrections

thumbs-up

0

Similar questions

Q. People who are engaged throughout the day but do not contribute to the production output are called ____.

Q. _______ refers to market where services of factors of production are brought and sold.

Q. In a wage system where an employee is paid according to output is called ________.

Q. Factor incomes are used by the factors of production to purchase goods and services, which determines the distribution of the output produced.

C F C, C H_{4}, N_{2} O

C O_{2}

in decreasing order according to their contribution in global warming.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Circular Flow Diagram

ECONOMICS

Watch in App

explore_more_icon

Explore more

Circular Flow Diagram

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon