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economic rent

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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.

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Origin of economic rent

First recorded in 1885–90
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

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
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