Distinguish between factor income and transfer income.

1.	Distinguish between factor income and transfer income.
Answer» Explanation: 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. Pls mark as brainliest

Answer»

Explanation:

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.

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Distinguish between factor income and transfer income.​