Title: Rent Seeking Definition
Headings: Rent Seeking
Rent Seeking
What Is Rent Seeking?
Key Takeaways
Understanding Rent Seeking
Rent Seeking Factors and Examples
Business Rent Seekers
Individual Rent Seekers
Licensing Requirements
Issues Arising from Rent Seeking

Content: In general, the term economic rent has evolved to mean receiving a payment that exceeds the costs involved in the associated resource. Entities, therefore, will take rent seeking steps to obtain economic rent that requires no reciprocal contribution of production. Oftentimes, this can mean using a particular status to gain economic rent from the government through social service grants. Rent Seeking Factors and Examples
Rent seeking is a byproduct of political legislation and government funding. Politicians decide the laws, regulations, and funding allocations that govern industries and government subsidy distributions. These legislations and actions manifest rent seeking behaviors by offering economic rent with little or no reciprocity. Governments have established funding for a variety of social service programs. Business social service programs are typically designed to provide aid for businesses with the goal of fostering economic prosperity. Individual social service funding is provided for the goals of wellness and human welfare. Business Rent Seekers
Businesses can lobby the government for help in the areas of competition, special subsidies, grants, and tariff protection.