Lecture Economics (6/e): Chapter 30 - Stephen L. Slavin-Kinh Te - Quan Ly

Chapter 30 - rent, interest, and profit. After studying this chapter you will be able to understand: What is land? Economic rent, are prices high because rents are high, or are rents high because prices are high? What is capital? How is the interest rate determined? The net productivity of capital, the capitalization of assets, the present value of future income, how are profits determined? Theories of profit. Chapter30Rent,Interest,andProfitCopyright2002 by The McGrawHill Companies, Inc.All ri

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Tải Lecture Economics (6/e): Chapter 30 - Stephen L. S... (.pdf)

Chapter

30

Rent,

Interest,

and

Profit

Copyright

2002 by The McGraw­Hill Companies, Inc.

All rights reserved.

30­1

Chapter

Objectives

•

What

is

land?

•

Economic

rent

•

Are prices high because rents

high because prices are high?

are

high,

or

are

rents

•

What

is

capital?

•

How

is

the

interest

rate

determined?

•

The

net

productivity

of

capital

•

The

capitalization

of

assets

•

The

present

value

of

future

income

•

How

are

profits

determined?

•

Theories

of

profit

Copyright

2002 by The McGraw­Hill Companies, Inc.

All rights reserved.

30­2

What

Is

Rent?

•

What

is

land?

–

Land

is

a

resource

or

a

factor

of

production

–

The

owner

of

land

is

paid

rent

for

allowing

its

use

in

the

production

process

–

The

amount

of

rent

paid

for

a

piece

of

land

is

based

on

the

supply

of

and

the

demand

for

land

Copyright

2002 by The McGraw­Hill Companies, Inc.

All rights reserved.

30­3