what are factor income tell one by one
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Factor income is income received from the factors of production: the resources used to produce goods or services. Factor income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is called profit.
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Factor Income is the flow of income that is derived from the factors of production- the general inputs required to produce goods and services. Factor Income on the use of land is called rent, income generated from labor is called wages, and income generated from capital is called profit
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