Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

what do businesses pay for the use of land? rent wages profit interest

Question

what do businesses pay for the use of land? rent wages profit interest

Explanation:

Brief Explanations

In economics, land is one of the factors of production. The payment made to the owner of land for its use by businesses is defined as rent. Wages are payments for labor, profit is the return to entrepreneurs, and interest is the payment for capital.

Answer:

rent