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Jun 15, 2024 · A similar payment for the use of a product, equipment or a service. ( economics) A profit from possession of a valuable right, as a restricted license to engage in a trade or business. A New York city taxicab license earns more than $10,000 a year in rent. An object for which rent is charged or paid. ( obsolete) Income; revenue .
Definition and meaning. Rent, in the world of economics, has two main meanings: 1. Income from hiring out land, property, vehicles or any other durable good. 2. The difference between what people are paying for a factor of production and the minimum required. Specifically, the minimum we need for it (or he/she) to remain in current use.
rent, adj. meanings, etymology, pronunciation and more in the Oxford English Dictionary
Definition of rental noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
In other words, economic rent is the difference between actual earning and expected (transfer) earning. However, the division of total factor income between transfer income and economic rent depends on the shape of the supply curve of the resource., i.e., on the elasticity of supply of the resource. Three possibilities are shown in Fig. 8.
rental meaning: an arrangement to rent something, or the amount of money that you pay to rent something: . Learn more.
Rental definition: an amount received or paid as rent. . See examples of RENTAL used in a sentence.
