economic rent

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economic rent

n.
See rent1.

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

ec′onom′ic rent′


n.
the return on a productive resource, as land or labor, that is greater than the amount necessary to keep the resource producing.
[1885–90]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.economic rent - the return derived from cultivated land in excess of that derived from the poorest land cultivated under similar conditions
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%"
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