Factor cost is also known as:

Correct option is C

The correct answer is (c) Input cost
· Factor cost is also known as input cost.
· It's the cost of producing goods and services, including the costs of raw materials, labor, land, capital, and transportation.
· Factor cost does not include profits or taxes.
· Input cost is the expense incurred to acquire the resources needed for production, such as raw materials, labor, and machinery.
· It encompasses all costs associated with inputs regardless of where they are sourced, whether internally or externally.
· Market cost typically refers to the price at which a product or service is sold in the market.
· It includes all costs incurred by the manufacturer, along with any markups for profit, distribution, and taxes.