Economic rent

In neoclassical economics, economic rent refers to any payment (in the context of a market transaction) made to the owner of a factor of production or resource whose supply is fixed.  In classical economics, economic rent is any payment made or benefits received for non-produced, scarce inputs such as location (as in a land lot) and/or assets which are formed by creating official exclusive privileges over natural opportunities and resources.

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Category:Economics
Category:Property