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Define factor income and transfer income …

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Define factor income and transfer income with example

Posted by Rohit Bobal 5 years, 2 months ago

CBSE > Class 12 > Economics

1 answers

Saadhvi Sikka 5 years, 2 months ago

Factor income is the bilateral income which is recieved after the rendering of goods and services. Eg- rent recieved on land, wages recieved by a labour Transfer incomes are unilateral incomes that are recieved without rendering any goods and services. Eg- remittances sent by a son living in USA to his parents living in India

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