| 单词 | economic rent |
| 释义 | economic rent A payment for the services of an economic resource which is not necessary as an incentive for its production. Unimproved land, which is valuable purely on account of its location, commands a rent based on its value to the user. Nobody had to be paid to make it, so rent paid to a landlord is economic rent. In the case of land which has been improved, however, for example by drainage, part of the rent is a necessary incentive for the improvements. If landlords knew that no rent could be charged, the land would not be improved. People with special abilities may receive some element of economic rent, but it is hard to distinguish this from a return on the time and effort that leading baritones or barristers put into their specialized training. |
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