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economic rent

noun

  1. 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.


economic rent

noun

  1. 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. (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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Word History and Origins

Origin of economic rent1

First recorded in 1885–90
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Example Sentences

In such cases the landlord makes the farmer a present, for the time being, of part of the economic rent.

Economic rent is not confined to the cases of contract rent.

The total product is sometimes called the "gross rent," but economic rent is "net rent."

Contract rent is based on economic rent and tends to conform to it whenever there is competition.

The existence of economic rent is the basis of the agreement to pay contract rent.

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