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economic rent
noun
- 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
- 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
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Word History and Origins
Origin of economic rent1
First recorded in 1885–90
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