Elaborate descriptions economic rent

Reference no: EM13733285

Directions: Please provide detailed and elaborate descriptions for each of the following terms and concepts. Your responses should be a minimum of 1 to 2 paragraphs and should include examples from the reading assignments or personal experience, if possible.

1. Land

2. Economic rent

3. Law of Supply

4. Law of demand

5. Capital

6. Interest

7. Interest rates

8. Price ceiling

9. Price floor

10. Innovation

11. Surplus value

12. Profit

Reference no: EM13733285

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