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Home Questions WSY283BVKV
Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: National Income Accounting

Question:

Match List-I with List-II.

List-I Factor services List-II Factor payments
(A) In lieu of contribution made by human labour (I) Interest
(B) In lieu of contribution made by Capital (II) Profit
(C) In lieu of contribution made by entrepreneurship (III) Rent
(D) In lieu of contribution made by fixed natural resources (IV) Wage
Options:

(A)-(I), (B)-(II),(C)-(III),(D)-(IV)

(A)-(III), (B)-(II),(C)-(I),(D)-(IV)

(A)-(IV), (B)-(I),(C)-(II),(D)-(III)

(A)-(III), (B)-(IV),(C)-(I),(D)-(II)

Correct Answer:

(A)-(IV), (B)-(I),(C)-(II),(D)-(III)

Explanation:

The correct answer is option (3) : (A)-(IV), (B)-(I),(C)-(II),(D)-(III)

The correct matgch between List - I (Factor services) and List-II (Factor payments) is as follows :

(A) In lieu of contribution made by human labor - (IV) Wage : Wage is the payment made in return for the contribution of human labor.

(B) In lieu of contribution made by capital- (I) Interest : Interest is the payment made in return for the contribution of capital.

(C) In lieu of contribution made by entrepreneurship - (II) Profit : Profit is the return to entrepreneurship, representing the reward for the risk-taking and innovation associated with entrepreneurship.

(D) In lieu of contribution made  by fixed natural resources - (III) Rent : Rent is the payment made in return for the use of fixed natural resources.

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