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Question
______ earns income in the form of profit as a factor of production.
Options
Land
Labour
Capital
Entrepreneur
Solution
Entrepreneur earns income in the form of profit as a factor of production.
Explanation:
- The entrepreneur earns income in the form of profit as a factor of production by taking on the risks associated with starting and managing a business.
- Profit is the reward for their innovation, decision-making, and ability to combine other factors of production effectively.
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