JAMB - Economics (2024 - No. 67)
The following are rewards for factors of production EXCEPT
profit
rent
interest
subsidy
توضیح
Factors of production are the resources or inputs used in the production process, including land, labor, capital, and entrepreneurship. Each factor receives a specific reward or payment for its contribution to the production process. The rewards for factors of production are as follows: Rent, Wages (Salaries), Interest and Profit