The reward of entrepreneurship as a factor of production is
Answer Details
The reward of entrepreneurship as a factor of production is profit. Entrepreneurship involves taking risks and organizing and managing resources to produce goods or services with the aim of making a profit. Profit is the surplus that remains after deducting all the costs of production from the total revenue earned. It serves as a reward for the entrepreneur's effort, innovation, and ability to identify profitable opportunities. Interest, commission, salary, and rent are also forms of income, but they are associated with other factors of production such as capital, labor, and land, respectively.