Rent seeking often refers to

Question

Quizplus · Accepted Answer

Rent seeking is the use of government regulations and laws to gain an advantage over competitors or to secure a monopoly position in a market. This is often done without any corresponding increase in economic output or efficiency. Politicians seeking bribes or voters seeking goods/services from politicians are not necessarily examples of rent seeking, although these activities may also involve corrupt or unethical behavior. Option C is also incorrect as it refers to production efficiency and raising profits through legitimate business practices.

Rent Seeking Often Refers to