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Economics

Study Notes

Transfer Earnings and Economic Rent (Labour Markets)

Level:
A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

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.

Transfer earnings and economic rent - revision video

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