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Economics · Oct / Nov 2019 · Paper 12 · Question 1

2281Factors of production

Which statement about factors of production is correct?

  1. ACapital is the amount of money borrowed from a bank.
  2. BLabour is output made by an employee.
  3. CLand includes commercially grown rice crops.
  4. DProfit is the reward for enterprise.

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Correct answer: D. Profit is the reward for enterprise.

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