Question

What is the difference between factor payments and profits

Answer 1

Answer:

here is some differences which is

Explanation:

Yet, just as we differentiate between daily use and the traditional sense of economic terms, a number of economists–and Econ textbooks–introduce a concept known as "economic profit." While the difference between the revenues of the companies and the costs of the factors they generate is natural, or accounting, income is the difference between the revenues of the company and the costs of those factors. Since it consists of the comparison of alternatives, economic benefit is seen as a reward for business— the making of economic decisions and taking of risks. Some go so far as to describe enterprise as a separate output factor,