vinayakadam195 vinayakadam195

22-05-2024
Business

Answered

(d) Turnover
22. Rent, Wages, Interest and Profits are which form of payments?
(a) Factor Payments
(b) Transfer Payments
(c) Explicit Payments
(d) Implicit Payments
23. Gifts, donations and scholarships are which form of payments?
(a) Factor Payments
(b) Explicit Payments
(c) Implicit Payments

Answer :

GinnyAnswer GinnyAnswer

22-05-2024

Final answer:

Factor Payments are wages paid to factors of production, categorized as explicit or implicit costs.

Explanation:

Factor Payments are payments made for the use of factors of production, categorized as either explicit or implicit costs. Rent, wages, interest, and profits are Factor Payments classified as Factor Payments under (a) Factor Payments. Gifts, donations, and scholarships fall under Factor Payments and are categorized as Factor Payments in (b) Explicit Payments.

Learn more about Factor Payments and Types here:

https://brainly.com/question/42064820

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