economic rent


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economic rent

n.
See rent1.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

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]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.economic rent - the return derived from cultivated land in excess of that derived from the poorest land cultivated under similar conditions
rent
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%"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
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Speaking of opportunity cost, mine is so low that my economic rent from my job is greater than my salary.
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