Question

what are factor income?

Answer 1

Factor Income is income derived from selling the services of factors of production. In the case of labour, this means wages, plus the part of the incomes of the self-employed which is a reward for their own labour...Income from land is rents,,,,including part of the incomes of the self-employed, and part of the imputed incomes of owner-occupiers of houses. Incomes from capital and entrepreneurship are received as dividends,,,interest,,,,, the retained profits of companies and the part of the incomes of the self-employed which is a return on their own capital and entrepreneurship....

Answer 2

factor income is income derived from selling the services of factors of production.