Special interest groups often engage in rent seeking,which is a socially wasteful activity.

Question

Quizplus · Accepted Answer

Rent seeking refers to efforts by groups or individuals to influence the government to redistribute resources in their favor, without creating any new wealth. This results in a net loss to society, making it a socially wasteful activity. Special interest groups often engage in rent seeking to benefit their own narrow interests at the expense of the general public.

Special Interest Groups Often Engage in Rent Seeking,which Is a Socially