Encyclopedia > Economic rent

  Article Content

Economic rent

In economic theory, economic rent is a payment to a factor of production in excess of that which is needed to keep it employed in its current use.

For example, if someone is earning $20,000 for a job, and the next best job pays $15,000, then the economic rent is the difference between the two of $5,000.



All Wikipedia text is available under the terms of the GNU Free Documentation License

 
  Search Encyclopedia

Search over one million articles, find something about almost anything!
 
 
  
  Featured Article
Shoreham, New York

... 1.1 km² (0.4 mi²) of it is land and none of the area is covered with water. Demographics As of the census of 2000, there are 417 people, 145 ...

 
 
 
This page was created in 23.8 ms