What Is the Payment to Land as a Factor of Production

question 213

Multiple Choice

What is the payment to land as a factor of production called?

• A) wage
• B) rent
• C) interest
• D) profit

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Definitions:

Domain-Relevant Skills

Specific abilities and knowledge required to perform effectively in a particular field or area of work.

Intrinsic Task Motivation

The drive to undertake a task due to the inherent satisfaction and interest it provides, rather than for external rewards.

Creativity-Relevant Processes

Refers to the methods and approaches that facilitate the generation of novel and valuable ideas within an individual or a group.

Extrinsic Environmental Components

External factors that influence an organization's performance, including economic, political, and social conditions.