The net income remaining after costs of labor, capital, and entrepreneurship have been paid is referred to as?

The term that describes the net income remaining after all costs associated with labor, capital, and entrepreneurship have been paid is best referred to as "Land Rent." This concept is grounded in economic theory, particularly classical economics, which views "rent" as the income derived from land or natural resources after accounting for those necessary costs of production.

In this context, "Land Rent" signifies the income that a landowner would receive as a return on the use of their property, once operational costs have been subtracted. It focuses on the unique attributes of land that contribute to its value and is impacted by various factors including location, demand, and the productivity of the land itself.

The other terms provided do not accurately describe this specific net income. Surplus Rent refers to income exceeding the typical or expected return on land, rather than the net income after costs. Opportunity Cost represents the potential benefits that are lost by choosing one option over another, rather than the actual net income derived from land or resources. Effective Income generally refers to the actual income received after deductions, but does not specifically denote the net income from land. Thus, "Land Rent" is the precise term that captures the net income concept in relation to the payments of labor, capital, and entrepreneurship.