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It is true that rent-seeking behavior refers to activities designed to transfer income or wealth to a particular firm or resource supplier at someone else's or society's expense.
What is Rent-Seeking?
Rent-seeking is the activity of gaining financial benefits and boosting earnings using deceptive ways while failing to contribute to a productive improvement of the economy. Manipulating governmental policy, such as social service initiatives and publicly sponsored social services, is a part of rent-seeking.
Rent is described in economics as wealth acquired through dubious, frequently deceitful techniques. Utilizing resources in a deceptive manner, businesses and people fail to increase the productivity of the economy in order to get economic advantages.
Rent-seeking occurs when a person or business pushes another organization, such as the government, for grants, subsidies, or tariff protection. In addition to lobbying, rent-seeking can also take the form of money donations. Rent-seeking can occur when a person or business gives money and then deducts it from their taxes.
To know more about rent-seeking, visit:
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