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alexandr1967 [171]
3 years ago
14

What is rent seeking in economics​

Business
1 answer:
Nataly_w [17]3 years ago
4 0

Answer:

Rent-seeking is the effort to increase one's share of existing wealth without creating new wealth. Rent-seeking results in reduced economic efficiency through misallocation of resources, reduced wealth-creation, lost government revenue, heightened income inequality, and potential natoinal decline

Explanation:

Rent-seeking is the effort to increase one's share of existing wealth without creating new wealth. Rent-seeking results in reduced economic efficiency through misallocation of resources, reduced wealth-creation, lost government revenue, heightened income inequality, and potential national decline

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