economic rent

noun
  1. the return on a productive resource, as land or labor, that is greater than the amount necessary to keep the resource producing or on a product in excess of what would have been the return except for some unique factor.

Origin of economic rent

First recorded in 1885–90
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for economic rent

economic rent

noun
  1. economics a payment to a factor of production (land, labour, or capital) in excess of that needed to keep it in its present use
  2. (in Britain) the rent of a dwelling based on recouping the costs of providing it plus a profit sufficient to motivate the landlord to let it
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