The reward to land as a factor of production is

Assessment: WAEC SSCE - Economics - 2010 (Objective) Subject: Economics

Question 1 Report

The reward to land as a factor of production is
Answer Details
The reward to land as a factor of production is rent. Rent is the payment made to the owner of a piece of land or other natural resources for the use of that resource in the production of goods or services. It is a return on the natural resources which are not produced by humans but exist in nature, such as land, minerals, oil, and gas.
Read lesson note on Factors Of Production And Their Theories (JAMB)
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