A process through which a firm seeks to obtain earnings without contributing to production, thus wasting valuable resources, is known as

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Rent seeking is a phenomenon in which a firm tries to obtain a larger share of wealth without contributing anything to the society. This often results in wastage of valuable resources and can harm the overall economy. Moral hazard refers to a situation where a party takes more risks because they are insured against failure. Detrimental externality refers to a cost imposed on a third party as a result of the actions of an economic agent. A defective telescopic faculty is not a relevant term in this context.

A Process Through Which a Firm Seeks to Obtain Earnings