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Question
Labour earns ______ as a factor of production.
Options
Interest
Wages
Rent
Interest
MCQ
Fill in the Blanks
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Solution
Labour earns wages as a factor of production.
Explanation:
- Labour earns wages as a factor of production, which is the payment made to workers for their services and effort in the production process.
- Wages compensate labourers for their time and skills contributed to creating goods and services.
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