Asked by hilal erkan on May 30, 2024
Verified
The pursuit through government of a transfer of wealth at society's expense is called "rent seeking."
Rent Seeking
An economic concept referring to the practice of individuals or firms using their resources to gain government favors or advantages without creating new wealth, often through lobbying or other non-productive means.
Wealth Transfer
Refers to the movement of assets or capital from one individual, group, or entity to another, often as a result of inheritance, gifts, or strategic financial planning.
Society's Expense
The costs or negative outcomes borne by the general public or society at large, often as a result of business activities or policies.
- Understand the concept of rent-seeking and its implications on society.
Verified Answer
ZK
Zybrea KnightJun 01, 2024
Final Answer :
True
Explanation :
Rent seeking refers to the use of resources to obtain economic gain from others rather than through the creation of new wealth. It often involves lobbying the government to create policies or regulations that benefit one's own interests at the expense of others.
Learning Objectives
- Understand the concept of rent-seeking and its implications on society.