Name the four factors of production and the incomes they earn. The factor of production and the factor of production O A. human capital earns wages; time earns profit B. land earns interest; labor earn profit C. land earns rent; labor earns wages O D. human capital earns wages; financial capital earns interest The factor of production and the factor of production O A. capital earns interest; entrepreneurship receives a profit or incurs a loss O B. money earns interest; initiative earns profit O C. investment earns interest; capital incurs depreciation O D. capital earns rent; entrepreneurship earns wages
Name the four factors of production and the incomes they earn. The factor of production and the factor of production O A. human capital earns wages; time earns profit B. land earns interest; labor earn profit C. land earns rent; labor earns wages O D. human capital earns wages; financial capital earns interest The factor of production and the factor of production O A. capital earns interest; entrepreneurship receives a profit or incurs a loss O B. money earns interest; initiative earns profit O C. investment earns interest; capital incurs depreciation O D. capital earns rent; entrepreneurship earns wages
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter18: The Markets For The Factor Of Production
Section: Chapter Questions
Problem 8PA
Related questions
Question
Question 2 practice
Expert Solution
Step 1
Factors of productions are referred to as those inputs which are used in the process of production of goods and services.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax