A labourer earns $30,000 and their next best job pays $29,000. What is the economic rent?

Q: How do I try a free CXC CAPE Economics question?

Just tap any of the four options on this page — no signup, no card, nothing to install. You'll see the correct answer and a full mark-scheme-style explanation within a second. Each visit shows a fresh randomly-picked question from the live CXC CAPE CSEC Economics bank, so you can keep refreshing to try different ones before deciding whether to create a free account for daily access.

Q: Is Kramizo really free for CXC CAPE Economics students?

Yes — completely free. Every student gets 45 questions a day on the free plan, across any board and any subject, with no card required and no trial countdown. Kramizo's optional Pro plan removes the daily cap and adds analytics, but the free plan is genuinely free forever. We make money from the small percentage of students who choose to upgrade — not from selling data or ads.

Q: Are the Economics questions aligned to the CXC CAPE CSEC syllabus?

Every question is written against the published CXC CAPE CSEC Economics syllabus and reviewed for accuracy before being added to the bank. We match the command words (state, describe, explain, evaluate), mark allocations, and difficulty tier you'll see on real CXC CAPE past papers. Explanations are written in the style of official examiner mark schemes so students learn exactly what marks are being awarded for.

Question

A labourer earns $30,000 and their next best job pays $29,000. What is the economic rent?

Accepted Answer

$1,000, because supply is elastic so almost all the payment is transfer earnings — Award 1 mark. Contrast the technician's $55,000 rent on the same principle — elasticity of supply decides the split.

Answer

$30,000, because the whole wage is a surplus

Answer

$29,000, because that is what the alternative pays

Answer

$1,000, because supply is elastic so almost all the payment is transfer earnings

Answer

Nil, because labourers earn no economic rent

One real Economics question.No signup. 30 seconds.

One real Economics question.
No signup. 30 seconds.