The reward for land as a factor of production is
COMMERCE
WAEC 2021
The reward for land as a factor of production is
- A. wage
- B. rent
- C. profit
- D. interest
Correct Answer: B. rent
Explanation
Land as one of the factors of production has rent as a reward for ownership. This means as a land owner, you get paid rent on either a monthly or yearly basis for the use of the land for productive activities.
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