Economic Rent

Economic Rent

Economic Rent and International Trade Economy

In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Rent: The gain to a producer or resource owner resulting from a trade barrier or other restriction of supply that leads to a higher price than otherwise would occur. The existence or prospect of economic rents may promote unproductive rent-seeking activities by individuals or firms seeking to take advantage of them. See also quota rent.



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