To earn income,people sell the services of the factors of production they own.Land earns ________and labour earns ________.

Name: To earn income,people sell the services of the factors of production they own.Land earns ________and labour earns ________.
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Question

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Land earns rent, while labor earns wages. This is a basic principle in economics, where the factors of production (land, labor, and capital) are rewarded with rent, wages, and interest/profit respectively.

To Earn Income,people Sell the Services of the Factors of Production