Industries that seek trade protection from government can be said to be engaging in rent seeking behavior.

Question

Quizplus · Accepted Answer

Rent seeking behavior refers to the practice of individuals or industries seeking to obtain economic rents (i.e. profits above what would be earned in a competitive market) through non-productive means, such as lobbying for trade protection from the government. Therefore, industries that seek trade protection from the government can be said to be engaging in rent seeking behavior.

Industries That Seek Trade Protection from Government Can Be Said