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
economic rent in American English
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 beenthe return except for some unique factor
Also called: Ricardian theory of rent
Word origin
[1885–90]This word is first recorded in the period 1885–90. Other words that entered Englishat around the same time include: classified, foregut, retread, roller coaster, seminar
Examples of 'economic rent' in a sentence
economic rent
Would it not be enough to have a life-long lease, or an economic rent, and be spared the anxiety of maintaining something permanent?
Times, Sunday Times (2011)
Most tourist destinations are failing to capture their full 'economic rent' (to use another piece of jargon).
Times, Sunday Times (2017)
The economic rent created should be taxed and given to local authorities as an incentive to develop vacant lots.