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WAEC Economics 1996 Question 15

Question 15

Theory of Production

Rent and interest are rewards to

  1. A.labour and capital respectively
  2. B.land only
  3. C.capital only
  4. D.labour and land respectively
  5. E.land and capital respectively
Show the answer and explanation

Answer: E (land and capital respectively)

Explanation

Rent is the reward for land and interest is the reward for capital.