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Difference between factor payment and transfer …

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Difference between factor payment and transfer payment

Posted by Janvi Rajoria 2 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Angad Mehra 2 years, 7 months ago

Factor Payment (Income): 1. It comprises rent, wages, interest and profit. 2. It is received in return for rendering productive service. 3. It is an earned income (earning concept). 4. It is bilateral payment. 5. It is included in national income. Transfer Payment (Income):1. It comprises gifts, subsidies, donations, scholarships, etc. 2. It is received without providing any good or service in return. 3. It is an unearned income (receipt concept). 4. It is unilateral payment.5. It is not included in national income. thankyou ?

0Thank You

Husan Preet 2 years, 8 months ago

Factor payment are rent , compensation etc And transfer are like gifts

0Thank You

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CBSE > Class 12 > Economics