JAMB Economics 2012 Objective — Question 49
Question 49 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.
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The reward on machinery and equipment in the process of production is known as
- A. profit
- B. interestCorrect
- C. rent
- D. wages
Explanation
Machinery and equipment are part of capital and the reward for capital as a factor of production is interest.
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