Question : ________________ is the amount paid to factors of production for their contribution in the production process.
Option 1: Factor cost
Option 2: Market price
Option 3: Net factor income from abroad
Option 4: Net factor income to abroad

Question

Question : ________________ is the amount paid to factors of production for their contribution in the production process.

Option 1: Factor cost

Option 2: Market price

Option 3: Net factor income from abroad

Option 4: Net factor income to abroad

Team Careers360 · Accepted Answer

Correct Answer: Factor cost

Solution :

The cost of the production factors is known as the factor cost. The total cost of the factors of production used to manufacture a specific good in an economy is referred to as the factor cost. It covers expenses such as those related to land, labour, capital, raw materials, transportation, etc.

Hence, Option A is correct.

Popular Searches

Question : ________________ is the amount paid to factors of production for their contribution in the production process.
Option 1: Factor cost
Option 2: Market price
Option 3: Net factor income from abroad
Option 4: Net factor income to abroad

Related Questions

Question : __________________ is the price for which product is actually sold in the market.
Option 1: Factor cost
Option 2: Market price
Option 3: Net factor income paid to abroad
Option 4: Net factor income from abroad.

Question : National Income is also called as :
Option 1: GNP at Factor Cost
Option 2: GNP at Market Price
Option 3: NNP at Factor Cost
Option 4: NNP at Market Price

Question : ________________ is the difference between factor income received from rest of the world and factor paid to rest of the world.
Option 1: Net factor income from abroad
Option 2: Factor income from abroad
Option 3: Factor income to abroad
Option 4: All of the above.

Question : Factor cost + ________________________ = Market price.
Option 1: Indirect taxes
Option 2: Net Indirect taxes
Option 3: Domestic income
Option 4: National income

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Popular Searches

Question : ________________ is the amount paid to factors of production for their contribution in the production process. Option 1: Factor costOption 2: Market priceOption 3: Net factor income from abroadOption 4: Net factor income to abroad

Related Questions

Question : __________________ is the price for which product is actually sold in the market. Option 1: Factor costOption 2: Market priceOption 3: Net factor income paid to abroadOption 4: Net factor income from abroad.

Question : National Income is also called as :Option 1: GNP at Factor Cost Option 2: GNP at Market Price Option 3: NNP at Factor Cost Option 4: NNP at Market Price

Question : ________________ is the difference between factor income received from rest of the world and factor paid to rest of the world.Option 1: Net factor income from abroadOption 2: Factor income from abroadOption 3: Factor income to abroadOption 4: All of the above.

Question : Factor cost + ________________________ = Market price.Option 1: Indirect taxesOption 2: Net Indirect taxesOption 3: Domestic incomeOption 4: National income

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