Study Notes
Transfer Earnings and Economic Rent (Labour Markets)
- Level:
- A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 3 Jul 2018
Economic rent is any amount earned by a factor of production, such as labour, above the minimum amount they require to work in a current occupation
Transfer earnings are the minimum reward required to keep factors of production, such as labour, in its current occupation.
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