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Income

Collectively, the four rewards for the factors of production are known as income.

Where this appears

The syllabus topics that use this term.

  • 1.1Factors of Production
  • 2.12Circular Flow and Inequality
  • 2.12Inequality in the Free Market
  • 4.6Components of the Balance of Payments

Taught in What Is Economics? Scarcity, Choice, and Economic Models

All 809 terms
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