economic rent
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- Also called Ricardian theory of rent.
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. Hendersoneconomic rent is not confined to the cases of contract rent.
The Principles of Economics | Frank A. FetterThe total product is sometimes called the "gross rent," but economic rent is "net rent."
The Principles of Economics | Frank A. FetterContract rent is based on economic rent and tends to conform to it whenever there is competition.
The Principles of Economics | Frank A. FetterThe 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
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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