Economists often analyze the interaction of individuals and firms in markets.Economists also examine the actions of individuals and firms as they attempt to use government to make themselves better off at the expense of others, a process that is referred to as
A)rent seeking.
B)logrolling.
C)government failure.
D)the public choice initiative.

Question

Quizplus · Accepted Answer

Rent seeking refers to the actions of individuals or firms using the government to obtain benefits at the expense of others. This can include seeking subsidies, regulations that benefit oneself while harming others, and lobbying to maintain or gain market power. Economists often study this behavior to understand the potential negative consequences and inefficiencies caused by government intervention in markets. The other choices, logrolling, government failure, and the public choice initiative, refer to different concepts related to the interactions between individuals and government but are not directly related to rent seeking.

Economists Often Analyze the Interaction of Individuals and Firms in Markets.Economists