The income paid to the owner of land, labor or capital, in return for productive service is called Factor Payment.
Factor payment is basically the income that is received by the person/company, who supplies the factors of production to someone or to some company and in return gets paid for them.
Now factors of production are land, labor, capital, entrepreneurship etc.
Income generated through factor payments can also be categorized accordingly, like wages are being paid for the services of labor, rent is being paid for using the land or any immovable asset, interest is paid on capital, and profit is shared with entrepreneurship.
Answer:
An activity-based approach refines a costing system by focusing on individual activities as the fundamental cost objects. It uses the cost of these activities as the basis for assigning cost objects such as products or services.
Explanation:
This is a costing system that works by allocating costs to different cost items based on the activity level of these items. This as opposed to traditional costing methods, assigns indirect or overhead cost to products or services less arbitrarily through identifying products or services with most activity or less activity and allocating costs to them based on this measurement.
Answer:
environmental sociocultural
Explanation:
Chances are that the boy saw, in the playground, other child galloping and he started to imitate him. Also, many of the activities or toys or structures to play in the playground are made to gallop.
Answer: Economic Theory
Explanation: Economic Theories are principles and ideas aimed at analyzing economic behavior and problems. Economic Theories are product of thorough theoretical research which identifies economic problems, reasons for those problems and ultimately proffers the best possible solution to arrest those problems. Hence economic Theories models economic realities and make real world predictions using this models.
