Using the table below,identify and explain the four factors of production and the names given to payments received by each.
Definitions:
Wage
The amount of money paid to an employee by an employer for work performed, typically expressed on an hourly, daily, or piecework basis.
Oligopoly Industry
A market structure dominated by a small number of companies, leading to limited competition and potentially higher prices for consumers.
Firms
Business organizations, such as corporations, partnerships, or sole proprietorships, that are engaged in commercial, industrial, or professional activities.
Market
A platform or area where buyers and sellers come together to exchange goods, services, or information.
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