1
Question
___________ is the factor payment for an entrepreneur.
___________ is the factor payment for an entrepreneur.
Open in App
Solution
The correct option is C Profit
Factors of production describe the inputs used to produce final goods or services for monetary gain. They include land, labour, capital, and entrepreneurship. The income earned from the factors of production are called factors of payment, which come in the form of rent for land, wages for labour, interest for capital, and profit for entrepreneurship.
Factors of production describe the inputs used to produce final goods or services for monetary gain. They include land, labour, capital, and entrepreneurship. The income earned from the factors of production are called factors of payment, which come in the form of rent for land, wages for labour, interest for capital, and profit for entrepreneurship.
Suggest Corrections
2
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
