Question : Which of the following is not an example of factor payment?
Option 1: Interest
Option 2: Wages
Option 3: Rent
Option 4: Pension
Correct Answer: Pension
Solution : The correct option is Pension .
Factor payments are payments made to the factors of production, which are the resources used in the production of goods and services. Interest, wages, and rents are all kinds of factor payments. Factor payments are an essential concept in economics and help explain how income is distributed among different participants in the economy. But a pension is not a kind of factor payment. It serves as a form of retirement savings. Pensions can be provided by employers, governments, or individuals through private retirement accounts.
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