economic rent (redirected from Scarcity rent)

economic rent

n.

See rent¹.

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economic rent

n

1. (Economics) 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. (Law) (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

Thesaurus

Noun

1.

economic rent - the return derived from cultivated land in excess of that derived from the poorest land cultivated under similar conditions rent proceeds, take, takings, yield, payoff, issue, return - the income or profit arising from such transactions as the sale of land or other property; "the average return was about 5%"