Whatever is left over is appropriated by the entrepreneur is called _______.

Profit

The correct answer is Option (1) → Profit

The production of final goods employs factors such as labour, capital, land and entrepreneurship. In the absence of indirect taxes or subsidies, the total value of the final goods output is distributed among different factors of production – wages to labour, interest to capital, rent to land etc. Whatever is left over is appropriated by the entrepreneur and is called profit. Thus the sum total of aggregate factor payments in the economy, National Income, is equal to the aggregate value of the output of final goods, GDP.