economic rent


noun

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.

Nearby words

  1. economic indicator,
  2. economic indicators,
  3. economic migrant,
  4. economic model,
  5. economic rationalism,
  6. economic sanctions,
  7. economic strike,
  8. economic zone,
  9. economical,
  10. economically

Origin of economic rent

First recorded in 1885–90


Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019


British Dictionary definitions for economic rent

economic rent

noun

economics a payment to a factor of production (land, labour, or capital) in excess of that needed to keep it in its present use
(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
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012