Identify the items which is not a factor payment.
Salaries to the members of Parliament
Free uniform to defense personnel
Imputed rent of an owner occupied building
Scholarship given to the scheduled caste students

Question

Identify the items which is not a factor payment.
Salaries to the members of Parliament
Free uniform to defense personnel
Imputed rent of an owner occupied building
Scholarship given to the scheduled caste students

Toppr Admin · Accepted Answer

Factors- payments are those payments- which are made to factors of production -e-g- rent- interest- profit- wages etc- Scholarships given to the -scheduled caste students is not a factor payment- it is a transfer -payment and it will not be included in national income-

Identify the items which is not a factor payment.Salaries to the members of ParliamentFree uniform to defense personnelImputed rent of an owner occupied buildingScholarship given to the scheduled caste students

Factors payments are those payments, which are made to factors of production e.g. rent, interest, profit, wages etc. Scholarships given to the scheduled caste students is not a factor payment, it is a transfer payment and it will not be included in national income.

Identify the items which is not a factor payment.
Salaries to the members of Parliament
Free uniform to defense personnel
Imputed rent of an owner occupied building
Scholarship given to the scheduled caste students