The largest component of national income in developing countries consist of

The largest component of national income in developing countries consist of

  1. profit
  2. profit and rent
  3. rent
  4. wages and salaries ✓

Explanation

In developing countries, most people earn income from working. Wages and salaries form the biggest part of national income.

Profits go to business owners, who are fewer in number. Rent goes to landowners, an even smaller group.

Labor is the main factor of production in developing economies with large working populations.