An economic concept that occurs from an entity seeking to gain added wealth without contributing productivity. The term “rent” is based on the economic definition of “rent,” as “wealth obtained through shrewd or potentially manipulative use of resources.” Examples of rent seeking are companies lobbying the government for grants or government-funded social services programs. Adam Smith suggested that entities earn income through wages, profit, and rent. Of the three, rent is the lowest-risk, least-capital-intensive investment. Rent seeking is also said to be a byproduct of political legislation and government funding.
We don't know everything about the markets. We're just devoted to learners. Taken from those smarter than ourselves, here's how we define Rent Seeking.