What Are The Factor Payments For Land Labor And Capital? Factor payments are frequently categorized according to the services of the productive resource. Wages are paid for the services of labor, interest is the payment for the services of capital, rent is the services for land, and profit is the factor payment to entrepreneurship. What
What Are The Payments For Labor Land Capital And Entrepreneurial Skill? Wages are paid for the services of labor, interest is the payment for the services of capital, rent is the services for land, and profit is the factor payment Is money land labor an entrepreneur or capital? Money is not capital as economists define
What Is Income Paid To The Owner Of Land Labor Or Capital In Return For Productive Service Called? In economics, factor payments are the income people receive for supplying the factors of production: land, labor, capital or entrepreneurship. Payments made of scarce resources, or the factors of production in return for productive services. What determines
Which Transaction Takes Place In The Factor Market? What Transactions Take Place in a Factor Market? In the factor market, businesses are the buyers. They may buy, rent, or hire raw materials, land, or labor. Whatever a business needs in order to build, package, and deliver the products or services they provide must be obtained