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Question : Rent is a factor payment paid to

Option 1: land

Option 2: restaurant

Option 3: building

Option 4: factory


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: land


Solution : The correct answer is land .

There are various terms included in the factor payment, these are mainly interest, profit, rent, and royalty. The factor of production generally consists of four factors viz, labour, capital, land and entrepreneurship. Rent is a payment paid to the owner of land as the services of land. Hence, rent is a factor payment paid to land.

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