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Non-Competitive Markets

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What are four factors of production? What are their remuneration?

Solution

Land, labour, capital and enterprise are four factors of production and their remuneration is called rent, wages, interest and profit respectively.

Some More Questions From Non-Competitive Markets Chapter

Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth.

Gross Investment and Net Investment

Domestic (Economic) Territory

National Income at Current and Constant Prices (Nominal and Real NI)

Consumption of Fixed Capital (Depreciation)

Factor Cost vs. Market Price (or Net Indirect Taxes)

Net Factor Income from Abroad (NFIA)

Value of Output vs. Value Added

Factor Payment (Income) vs. Transfer Payment (Income)

Sources of Domestic Income

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