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

1
First recorded in 1885–90

Words Nearby economic rent

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024

How to use economic rent in a sentence

  • In such cases the landlord makes the farmer a present, for the time being, of part of the economic rent.

    Supply and Demand | Hubert D. Henderson
  • economic rent is not confined to the cases of contract rent.

    The Principles of Economics | Frank A. Fetter
  • The total product is sometimes called the "gross rent," but economic rent is "net rent."

    The Principles of Economics | Frank A. Fetter
  • Contract rent is based on economic rent and tends to conform to it whenever there is competition.

    The Principles of Economics | Frank A. Fetter
  • The existence of economic rent is the basis of the agreement to pay contract rent.

    The Principles of Economics | Frank A. Fetter

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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