Which of the Following Is Not an Example of Rent-Seeking

question 71

Multiple Choice

Which of the following is not an example of rent-seeking behaviour?

• A) competition for subsidies
• B) lobbying the government to impose tariffs on certain imported products
• C) competition for the exclusive right to import a product
• D) engaging in aggressive advertising that slams a competitor's product

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Definitions:

Contract Law

The body of law that governs the formation, execution, and enforcement of agreements between parties, ensuring the legality of transactions and obligations.

Power of Attorney

A legal paper that provides one individual the power to represent another individual in legal or financial affairs.

Agency Agreement

A contract where one party (the agent) agrees to represent or act for another party (the principal) in business dealings with third parties.

Writing Requirement

A legal principle that certain kinds of contracts or agreements must be memorialized in a signed writing to be enforceable.