Activities undertaken by individuals or firms to influence public policy in a way that increases their income are referred to as _____

Question

Quizplus · Accepted Answer

Rent seeking is the term used to describe activities undertaken by individuals or firms to gain an advantage in the market or influence public policy in a way that increases their income. It is typically viewed as a form of economic rent, where individuals or firms are able to extract additional income without providing any additional value or service to the economy.

Activities Undertaken by Individuals or Firms to Influence Public Policy