As a factor of production; the reward for land is?

By: |Published on: Oct 19|Categories: Economics JAMB| 0 comments

A. Profit
B. Interest
C. Rent
D. Wage

Correct Answer:

Option C – Rent

Explanation

As factors of production, the reward for land is rent, capital is interest, labour is wages and salaries and entrepreneur is profit. Rent is the reward for Land as a factor of production

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