A-Level经济学-经济租金和转移收入Economic Rent and Transfer Earnings。

Revision: Economic Rent and Transfer Earnings

Transfer earnings are the minimum payment required to keep a factor of production in its present use. It is the opportunity cost an individual forgoes when deciding to work in one job rather than the next best alternative.

Example - a man may decide to work as a shop assistant because they pay is better than if he was a waiter. By making this decision he forgoes the opportunity to work at, for example, Pizza Express. The opportunity is seen in terms of this forgone alternative. If Pizza Express were to raise its wage rates in order to attract more staff, there would come a point where the shop assistant might reconsider his decision and decide to be a shop assistant after all, as the opportunity cost of being a shop assistant has risen.

Economic rent is a payment received by a factor of production over and above what would be needed to keep it in its present value. I.e. it is the amount which someone can earn which is in excess of their transfer earnings (what they could earn elsewhere). It is a demand determined reward to labor and will be earned when labor is to some degree in inelastic supply.

Example – doctors are in almost perfectly inelastic supply because the number of places available to study medicine is determined by the government and the profession. To the extent that the demand for doctors exceeds the supply, they will be able to negotiate higher salaries than most could earn as research scientists or in other occupations

The factor that determines the level of economic rent in comparison to transfer earnings is the elasticity of supply of labor. The more inelastic the supply, the greater proportion of total earnings that is made up of economic rent and therefore there are fewer transfer earnings. Conversely, the more elastic the labor supply is, the more transfer earnings make up of total earnings, and so the economic rent is less.

Example – The difference in the earnings of two jobs, for example surgeons and shop assistants demonstrates the importance of supply. Firstly, surgeons are inelastic in supply, especially in the short run. This is because the education required to become a surgeon is long and demanding, and is essential for entry into the occupation. Also, not everyone has the required abilities to become and surgeon. This means that the supply of surgeons is limited, and does not vary greatly with wage rates. So in this case, a large proportion of surgeons’ total earnings are made up of economic rent.

However, in the case of shop assistant there is far less training required, a wider range of possible people suitable for the occupation. So, the labor supply would be relatively elastic, meaning economic rent will be relatively less important than in the case for surgeons. If the wage rates for butchers was to increase, a large amount of people, who would be able to work in the occupation, would be attracted to it (eventually casing wage rates to fall).  

推荐阅读

【汇总】2016年雅思听力考试回忆及真题解析汇总

【汇总】2016年雅思阅读考试回忆及真题解析汇总

【汇总】2016年雅思写作考试回忆及真题解析汇总

【汇总】2016年雅思口语考试回忆及真题解析汇总

若想获取更多详尽出国留学攻略以及雅思备考资讯，可以打开我们【上海新东方雅思网】，涵盖雅思真题机经，雅思写作、口语、听力、阅读以及留学名校介绍等，也许就能找到你真正需要的。上海新东方雅思网在这里预祝各位考生学习顺利，都能考取自己满意的学校。

上海新东方寒假班报名地址
托福	雅思	GRE	GMAT	SAT
基础班	IELTS 5.5分班	基础班	强化班	基础班
强化班	IELTS 6.5分班	强化班		强化班
精讲精练班	IELTS 7分班	精讲精练班	精讲精练班	精讲精练班
点题班	雅思词汇班	模考班	模考班	模考班
更多	更多	更多	更多	更多