Question on: JAMB Economics - 2018
As a factor of production, the reward for land is?
A
Profit
B
Interest
C
Rent
D
Wage
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Correct Option: C
The reward for labour is wages. 'Capital' - investment in man-made aids to production including buildings, factories, computers. The reward for capital is interest. 'Enterprise - the risk-taking role of business owners undertaken in the pursuit of profit.
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