Question : Rent is a factor payment paid to
Option 1: land
Option 2: restaurant
Option 3: building
Option 4: factory
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Correct Answer: land
Solution : The correct answer is land.
There are various terms included in the factor payment, these are mainly interest, profit, rent, and royalty. The factor of production generally consists of four factors viz, labour, capital, land and entrepreneurship. Rent is a payment paid to the owner of land as the services of land. Hence, rent is a factor payment paid to land.
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Question : The minimum payment to a factor of production is called:
Option 1: quasi-rent
Option 2: rent
Option 3: wages
Option 4: transfer payment
Question : Which of the following is not an institutional factor for agriculture?
Option 1: Land reforms
Option 2: Electricity
Option 3: Size of fields
Option 4: Land tenure
Question : "Brahmadeya" a type of land during the Chola Period, was the ________.
Option 1: land gifted to Brahmans
Option 2: land of non-Brahmans peasant proprietors
Option 3: land gifted to temples
Option 4: land of the royal person
Question : The density of the population shows:
Option 1: land-capital ratio
Option 2: land-product ratio
Option 3: land-labour ratio
Option 4: man-land ratio
Question : For a bank, the main liability is the ______.
Option 1: deposits
Option 2: economic rent
Option 3: assets
Option 4: loans
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