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What is economic rent?
the payment for the right to use land
A payment made in exchange for occupying another's land or property is called?
rent
How did sharecropping work?
Sharecropping was a system where landowners allowed tenants to use their land in exchange for a share of the crops produced. The tenant would receive a portion of the harvested crop and the landowner would take the rest as payment for rent. This system often led to cycles of debt and poverty for the tenant farmers.
How should a letter for rent payment be delivered?
A letter for rent payment, especially a late rent payment or new amount should be sent registered and signed for so you can prove that it was delivered to the person owing the rent
What is the difference between a mortgage and monthly rent?
Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.Monthly rent is payment for using someone else's property.A mortgage payment is payment for a loan you obtained to purchase real property that you own.
What does soccige mean?
noun - a tenure of land held by the tenant in performance of specified services or by payment of rent, and not requiring military service.
What is the journal entry for rent with no cash payment?
Debit rent expenseCredit rent payable
Can a rent payment letter be used in a court of law?
Yes a rent payment letter can be used in a court of law as long as it is a valid rent payment letter. This letter must be signed by the appropriate people to be valid.
Difference between rent and quasi - rent?
Rent is a payment for natural gifts of nature like land. Quasi rent is a payment for man made appliances like machines.As the supply of land cannot be changed, rent persists in both short run and long run. But quasi rent is a short run phenomenon which disappears in the long run when the supply of man made goods is increased.Rent is permanent in nature while quasi rent is a temporary phenomenon.Rent is the disparity amidst total revenue and total costs. Conversely, quasi rent is difference between total revenue variable costs.Some economists regarded rent as unearned income. But quasi rent is a necessary payment which all factors of production receive due to their inelastic supply in the short run.Ricardo's rent arises due to differences in fertility of land. Marshall's quasi rent arises due to the scarcity of man made appliances in the short run.Rent cannot be zero but quasi rent can be zero when the short run price of the commodity equals its average variable cost.
Net earning of 740 per month if paid 200 on rent what percent of her income is her rent payment?
Rent payment percentage as follows: Percentage = 200 / 740 * 100 = 27%
What is the reward for land?
Rent or lease
What are 4 Remuneration of Factor of Production in detail?
There are four factors of production. The first is land, which payments are for rent. The second is labor, for which the payment is wage. The third is capital, and the payment is interest. The fourth is entrepreneurship and the remuneration is profit.
