What are the four factors of production and what are the remunerations to each of these called?
What are the four factors of production and what are the remunerations to each of these called?
Anurag Pathak Changed status to publish December 2, 2023
The four factors of production are:
- Land
- Labour
- Capital
- Entrepreneur
The remuneration of these four factors are:
- Land – Rent
- Labour – Wages
- Capital – Interest
- Entrepreneur – Profit
Anurag Pathak Changed status to publish December 2, 2023
