in what form do households receive income from labor within a resource market?

profit
wages
rent
interest

1 answer

In a resource market, households receive income from labor in the form of wages. Wages are payments made by employers to employees in exchange for their labor and services.

To clarify the other terms:

  • Profit refers to the income earned by businesses after all expenses have been deducted from revenue.
  • Rent is income earned from property ownership, typically from leasing or renting out real estate.
  • Interest is the payment made for the use of borrowed capital, typically associated with loans or savings.

So, specifically regarding labor, the correct answer is wages.