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Social StudiesSocial Studies
8 December, 01:43

What is income paid to the owner of land, labor, or capital in return for productive service called?

a. currency

b. revenue

c. factor payment

d. opportunity cost

+2
Answers (1)
  1. 8 December, 01:51
    0
    A wage, interest, rent, and profit payment for the services of scarce resources, or the factors of production (labor, capital, land, and entrepreneurship), in return for productive services is called a factor payment. Therefore, the correct answer is option C.
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