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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #831088
Introduction to Economics 1 Deneme Sınavı Sorusu #831088
I. Labor - Wage
II. Capital - Rent
III. Land - Interest
In which of the options the correct pairing for the factor of production and its compansation for using it is given?
Only I |
Only II |
I and II |
I and III |
II and III |
Yanıt Açıklaması:
The Labor includes human resources that contribute to production. Firms pay wage to the labor they use in production. Firms often use credits to buy or hire the capital they use for production, and pay interest in return. Even if they use their own funds, the opportunity cost of using them is the interest foregone. So, the compensation for the use of capital is interest. The price of using land is called rent. The answer is A.
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