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WAEC Commerce 2019 Question 3

Question 3

Production

Rent is the return on

  1. A.a loan.
  2. B.labour.
  3. C.land.
  4. D.a share.
Show the answer and explanation

Answer: C (land.)

Explanation

Each factor of production earns a reward: land earns rent, labour wages, capital interest and the entrepreneur profit.