RENT

(n.) That portion of the produce of the earth paid to the landlord for the use of the "original and indestructible powers of the soil;" the excess of the return from a given piece of cultivated land over that from land of equal area at the "margin of cultivation." Called also economic, / Ricardian, rent. Economic rent is due partly to differences of productivity, but chiefly to advantages of location; it is equivalent to ordinary or commercial rent less interest on improvements, and nearly equivalent to ground rent.