DIFFERENT TYPES OF RENT-ALL YOU NEED TO KNOW
The word rent can refer to any periodic payment made regularly for the hire of a good e.g. a house, a flat, a shop etc. Rent is the share of the national income that goes to the owners of land. Mineral royalties are a form of rent.The amount of economic rent is determined by the richness of the land or mine, since the greater the value that a given amount of labour can produce, the greater the surplus from which rent can be paid…….
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