English

The reward of an entrepreneur is in the nature of ______.

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Question

The reward of an entrepreneur is in the nature of ______.

Options

  • contractual income

  • residual income

  • constant income

  • positive income

MCQ
Fill in the Blanks
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Solution

The reward of an entrepreneur is in the nature of residual income.

Explanation:

Profits are how an entrepreneur makes their living. An entrepreneur receives profit after deducting all production expenses or paying the hired factors of production.
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Chapter 4: Factors of Production - QUESTIONS [Page 120]

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Goyal Brothers Prakashan Economic Applications [English] Class 10 ICSE
Chapter 4 Factors of Production
QUESTIONS | Q 55. | Page 120

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