What Are the Payments Each Factor of Production Receives

question 118

Essay

What are the payments each factor of production receives?

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Definitions:

Population

The total number of persons inhabiting a particular country, area, or place.

Generalize

The process of forming general concepts by abstracting common properties of instances.

Experimental Group

In an experiment, the group receiving the treatment under study.

Control Group

In an experiment, a group of people, similar to those in the experimental group, who do not receive the treatment under study.