Asked by
Preeti Singh
on Dec 08, 2024
Verified
Payment in the land market is called rent.
Land Market
The input/factor market in which households supply land or other real property in exchange for rent.
Rent
A payment made for the temporary use of a good, service, or property owned by another.
- Understand the principles of production factors and their significance in economic operations.
Verified Answer
JL
Learning Objectives
- Understand the principles of production factors and their significance in economic operations.