Interest is the payment for the use of
A)borrowed funds.
B)natural resources.
C)labor.
D)any factor of production.

Name: Interest is the payment for the use of A)borrowed funds. B)natural resources. C)labor. D)any factor of production.
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Question

Quizplus · Accepted Answer

Interest is typically associated with borrowing funds and is the cost incurred for using those funds. Other factors of production, such as natural resources and labor, can also have costs associated with their use but those costs would not be considered interest.

Interest Is the Payment for the Use of