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WAEC Economics 2002 Question 6

Question 6

Theory of Production

Which of the following is a reward to a factor of production?

  1. A.Interest
  2. B.Donation
  3. C.Gift
  4. D.Subsidy
Show the answer and explanation

Answer: A (Interest)

Explanation

Interest is the reward for capital; donations, gifts and subsidies are not payments for a factor's service.