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    Identify and explain the following concepts: Shabana paid wages to workers in her factory and interest on her bank loan.

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    Identify and explain the following concepts: Shabana paid wages to workers in her factory and interest on her bank loan.

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    Identified Concept: Theory of factor pricing.

    Explanation: In macroeconomics land, labour, capital, entrepreneur are the factors that contribute to the production process, micro economics helps in determining the factors rewards for land, labour, capital and entrepreneur in the form of rent, wages, interest, and profit respectively.

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    7 0 SIMILAR QUESTIONS

    Labour is the most _________ factor of production.

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    Land is a passive factor of production. Why?

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    Medium View solution > Point Eggs Bacon A 0 40 B 30 35 C 50 20 D 60 0 E 30 20

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    Labour is a passive factor of production.

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    Identify and explain the concept from the given illustration: Shabana paid wages to workers in her factory and interest on her bank loan.

    Identify and explain the concept from the given illustration: Shabana paid wages to workers in her factory and interest on her bank loan.

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    Identify and explain the concept from the given illustration:

    Shabana paid wages to workers in her factory and interest in her bank loan.

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    SOLUTION

    Concept: Theory of factor pricingExplanation:

    The theory of factor pricing explains how the rewards are determined for various factors of production like land, labour, capital, and entrepreneur.

    Concept: Macro Economics

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    Chapter 1: Introduction to Micro and Macro Economics - Exercise [Page 7]

    Q 3. (3) Q 3. (2) Q 4. (1)

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    Balbharati Economics 12th Standard HSC Maharashtra State Board

    Chapter 1 Introduction to Micro and Macro Economics

    Exercise | Q 3. (3) | Page 7

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    OMTEX CLASSES: 3.Shabana paid wages to workers in her factory and interest in her bank loan. Q.3 Identify and explain the concept from the given illustration:

    Chapter 1 - Introduction to Micro and Macro Economics [Latest edition] Q.3 Identify and explain the concept from the given illustration

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    3.Shabana paid wages to workers in her factory and interest in her bank loan. Q.3 Identify and explain the concept from the given illustration:

    Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board

    Chapter 1 - Introduction to Micro and Macro Economics [Latest edition]

    Q.3 Identify and explain the concept from the given illustration:

    3. Shabana paid wages to workers in her factory and interest in her bank loan.

    Sol : -Concept: Theory of factor pricing

    explanation:

    In macroeconomics land, labour, capital, entrepreneur are the factors that contribute to the production process, micro economics helps in determining the factors rewards for land, labour, capital and entrepreneur in the form of rent, wages, interest, and profit respectively.

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