Share This Article:

Economic Definition of rent. Defined.

Offline Version: PDF

Term rent Definition: Factor payments to the owners of land for using the various resources of land in the production of goods and services. Rent is included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis under the official title rental income of person. Rent is typically the smallest of the four factor payments, accounting for less than 5% of the income earned by the household sector.

 

« renewable resource | rent seeking »

Permalink: http://glossary.econguru.com/economic-term/rent

Alphabetical Reference to Over 2,000 Economic Terms