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.
Also called
Ricardian theory of rent.
Origin of economic rent
First recorded in 1885–90
Words nearby economic rent
British Dictionary definitions for economic rent
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