Economic Awareness - Sectors of Indian Economy
Which factor of production earns 'wages' as its income?
Which factor of production earns 'wages' as its income?
easy Q2 of 15
Step-by-Step Solution
Step 1: Recall income types for factors of production
Each factor of production earns a specific type of income.Step 2: Match factor to income
Labour earns wages, land earns rent, capital earns interest, and entrepreneurship earns profit.Final Answer:
Labour → Option DQuick Check:
Labour income = wages ✅
Quick Trick: Wages are paid to labour.
Common Mistakes:
MISTAKES- Confusing wages with interest or rent.
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