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The reward on machinery and equipment in the process of production is known as

Economics
JAMB 2012

The reward on machinery and equipment in the process of production is known as

  • A. profit
  • B. interest
  • C. rent
  • D. wages
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Correct Answer: Option B
Explanation

Capital' - investment in man-made aids to production including buildings, factories, computers. The reward for capital is interest.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC offline past questions - with all answers and explanations in one app - Download for free