The income earned by the people who sell the services of the factor of production is called
)

Question

Quizplus · Accepted Answer

The factor of production being referred to in this question is entrepreneurship, which is the act of organizing resources to produce goods and services. The income earned by the people who sell the services of entrepreneurship is called profit. Therefore, choice D is the correct answer. Choice A (wages) is the income earned by labor, choice B (rent) is the income earned by land, and choice C (profit) is the income earned by capital.

The Income Earned by the People Who Sell the Services