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

Question

Social Studies

Jaylon Chan

15 February, 00:01

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)

Know the Answer?

Zachery Schmidt · Answer 1

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.

What is income paid to the owner of land, labor, or capital in return for productive service called?a. currencyb. revenuec. factor paymentd. opportunity cost

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