The Return on a Factor Above the Amount Necessary to Entice

question 33

True/False

The return on a factor above the amount necessary to entice that factor into the production process is called rent.

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Definitions:

Unconscionable

Actions or terms that are excessively unfair or oppressive and not guided by conscience.

Competing In Business

The act of engaging in efforts to win over customers, achieve superior market position, or attain higher sales in a particular marketplace against other businesses.

Illegal Contract

An agreement that is against the law or public policy and therefore unenforceable in a court of law.

Performance Rendered

The execution or completion of a task or duty as agreed in a contract or agreement.