NECO Economics 2007 Objective — Question 6

Question 6 of 60 from the National Examinations Council (NECO) Economics 2007 Objective paper, with the correct answer and a full explanation.

Labour as an important factor in production process is recompensed with

A. commission
B. interest
C. profits

Explanation

Labour receives wages as payment for its contribution to production; other factors receive different payments (land - rent, capital - interest, entrepreneurship - profit).

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