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

Word History and Origins

Origin of economic rent¹

First recorded in 1885–90

Example Sentences

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

From Project Gutenberg

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

From Project Gutenberg

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

From Project Gutenberg

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

From Project Gutenberg

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

From Project Gutenberg