williams sodic Relative income hypothesis states that the satisfaction (or utility) an individual derives from a given consumption level depends on its relative magnitude in the society (e.g. relative to the average consumption) rather than its absolute level. It is based on a postulate that has long been
acknowledged by psychologists and sociologists, namely that... Read All 0002 April 2012
nkem okoh land is free natural gift from God.it is non locomotive and its reward is rent......labour effort by humans that is put into production process for a high output to be atttai ned,it can be measured by man hour or man labour,its reward is rent,wages and divided into hired and family labour...capital is a man made productive assets,its not mean money... Read All 2001 February 2012
olayinka oluwaseun land: land is a free gift of nature from God, nd the reward for land is rent.
labour: labour is an effort redered by human nd their aim is wages or salarymaking
capital : is an asset use for seting up a business it might nt be money nd d reward for that is interest motive.
lastly enterpreneur dis is d most important of all coz wit out dis d factor of... Read All 0017 January 2013