Rent is the payment received by resource owners for the use of their natural resources.

Natural Resources

Materials or substances occurring in nature which can be exploited for economic gain.

Payment

The transfer of money or goods from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Rent

Payment to resource owners for the use of their natural resources.

Absorb the complex nature of resources as conceptualized in economic theories, focusing on their delineation and the mechanism of their exchange.

Verified Answer

Final Answer :

True

Explanation :

Rent is indeed the payment received by resource owners for the use of their natural resources.

Learning Objectives

Absorb the complex nature of resources as conceptualized in economic theories, focusing on their delineation and the mechanism of their exchange.